Industry, Logistics & Shipping

Abu Dhabi bourse names Al Ramz as RAKCC liquity provider

UAE-based Al Ramz Capital has been appointed as a liquidity provider for Ras Al Khaimah Cement Company, RAKCC, shares, after obtaining the approval of Abu Dhabi Securities Exchange (ADX).

The agreement with Al Ramz Capital, a subsidiary of Al Ramz Corporation Investment and Development, is the third liquidity provider agreement being hosted by ADX.

Commenting on the deal, Acting CEO Khalifa Al Mansouri said "We are happy to welcome Al Ramz Capital as a liquidity provider in Abu Dhabi Securities Exchange. We are confident that having Al Ramz as a liquidity provider will add quality to market transactions in the coming period."

"Giving Al Ramz the liquidity provision licence adds to the achievements of ADX, the last one being the initiation of technical short selling service, which ADX was the first financial market in the region to launch," he stated.-TradeArabia News Service