Sharjah, UAE: Bank of Sharjah, a leading financial institution listed on the Abu Dhabi Securities Exchange (ADX), is pleased to announce it has appointed QMM, ADX’s leading market maker, as its official liquidity provider. This move is aimed at enhancing trading liquidity, increasing transactional efficiency, and ensuring a fair valuation for the Bank’s shares on the ADX.
Mr. Mohamed Khadiri, CEO of Bank of Sharjah, commented “Our decision to appoint QMM as our new liquidity provider stems from our commitment to offer reliable foundation for our investors, but also foster an environment of confidence and assurance within the market, paving the way for long term growth opportunities. Furthermore, this partnership will facilitate access for regional and international investors to easily participate and engage with our stock, diversifying our investor base while strengthening our market presence. Lastly, this agreement will provide our investors with enhanced liquidity, narrower bid-ask spreads, and improved market stability."
QMM, known for their proficiency in managing market liquidity, are projected to enhance the trading dynamics, and significantly improve the access to Bank of Sharjah shares. Their involvement is expected to fortify the Bank's presence on the ADX and foster investor confidence by facilitating efficient and transparent trading mechanisms.
On this occasion, Mr. Magdi Shannon, CEO of QMM, said, “We are delighted to partner with Bank of Sharjah. Our collaboration signifies a shared vision to elevate the trading experience for investors on the ADX. With our advanced liquidity provision techniques and dedicated team, we are confident in enhancing liquidity on Bank of Sharjah's shares. This latest appointment further underlines QMM's position as a leading liquidity provider on the ADX, setting new benchmarks in liquidity enhancement solutions, and ultimately contributing to the dynamism and growth of Abu Dhabi’s financial markets."
The partnership is a testament to Bank of Sharjah's proactive approach in optimizing shareholder returns and its ongoing endeavours to strengthen its market position on the ADX.
About Bank of Sharjah:
Bank of Sharjah was established on December 22, 1973, by Emiree decree issued by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council Ruler of Sharjah and its Dependencies. Banking operations started in May 1974. The Bank was the first financial institution in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription.
About Q Market Maker LLC (QMM):
Headquartered in Abu Dhabi, Q Market Maker LLC (QMM), specializes in market making, and liquidity provision across several asset classes. The company also operates as a securities lending and borrowing agent in Abu Dhabi. QMM brings together a combination of highly specialized expertise, innovative technology and capital deployment for the benefit of all market participants. QMM is an ADX licensed Market Maker, and Securities Lending & Borrowing Agent. QMM is registered with the UAE Securities and Commodities Authority (SCA), and fully adheres to international standards of corporate governance.
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