Al Ramz named liquidity provider for Adnoc Drilling
ABU DHABI, July 17, 2024
UAE-based Al Ramz Capital has announced that it has been appointed as a liquidity provider for Adnoc Drilling Company, the Abu Dhabi-listed largest drilling and well completions company in the Middle East by fleet size, owning and operating one of the largest multi-discipline drilling fleets in the world.
Al Ramz is a licensed market maker on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) with more than 25 years’ experience in UAE capital markets.
It provides a broad spectrum of services including asset management, corporate finance, brokerage, security margins, market making, liquidity providing, public offering management and financial research.
Following regulatory approvals, Al Ramz will commence independent trading of Adnoc Drilling Company shares within specified parameters and in adherence to regulatory guidelines on July 18, it stated.
A listed company appoints a liquidity provider to optimize share trading by enriching the order book, minimizing trading spreads, reducing price volatility and augmenting trading volume.
Al Ramz is widely recognized for its market-making services and has demonstrated a consistent ability to enhance liquidity provision by facilitating synergistic relationships within distinct markets.
Since introducing its market-making and liquidity provision services, Al Ramz has firmly established itself as a prominent leader in this domain.
These services are available on the Abu Dhabi Securities Exchange, the Dubai Financial Markets, and the Nasdaq Dubai.
