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Morgan Stanley signs market making agreement with DIFX, increasing liquidity on exchange

PUBLISHED ON 05-Jun-2007
Morgan Stanley signs market making agreement with DIFX, increasing liquidity on exchange
Morgan Stanley has signed a market making agreement with the Dubai International Financial Exchange (DIFX), under which it will provide continuous buy and sell prices in the shares of Kingdom Hotel Investments on the exchange. The agreement provides further liquidity in the company’s securities.

Craig Niven, Managing Director, EMEA of Morgan Stanley said: “This market making agreement underlines our commitment to the exchange and the region’s capital markets as they expand. This is another part of our increasing footprint in the region as we continue to provide new opportunities for investors.”

Per E. Larsson, Chief Executive of the DIFX, said: “Our agreement with Morgan Stanley further integrates the DIFX with the international and regional financial community. The exchange has built a first class trading structure with easy access for retail and wholesale investors.”

Morgan Stanley became a trading Member of the DIFX in February 2006. The following month it opened an office in the Dubai International Financial Centre, its first in the Middle East and North Africa region.

Kingdom Hotel Investments listed its ordinary shares on the DIFX in March 2006 following an initial public offering that raised $397 million. It is one of nine companies with equity listings on the exchange.

Hamed Ali, Executive Officer of the DIFX, said: “The exchange looks forward to entering into further market making agreements as it brings on further substantial equity and other listings. Market making promotes investor confidence in participating in trading, as it ensures that investors will always be able to buy and sell securities.”

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