Saturday , February 23 2019

ADX admits SICO as first non-UAE market maker

Abu Dhabi / WAM

In line with its strategy to enhance the UAE’s investment structure and support its sustainable economic gro-wth, Abu Dhabi Securities Exchange (ADX) has awa-rded SICO with the first non-UAE license to serve as market maker, making it the fifth registered market ma-ker on the exchange. The announcement came at a bell- ringing ceremony on ADX’s trading floor, which was
attended by members of ADX and SICO executive management.
SICO BSC (c) is a leading regional asset manager, broker, market maker and investment bank based in Bahrain, and has been the leading market maker on the Bahrain Bourse since 1995, making it a pioneer and key player in the GCC financial markets. As market maker, liquidity provider, and major participant in UAE markets through its Abu-Dhabi based subsidiary ‘SICO Financial Brokerage LLC’, SICO will help narrow the spread between bids and offers as well as encourage further trading.
This step is a reflection of ADX’s success in increasing the attractiveness and competitiveness of the Exchange through diversifying its products.

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