NBAD to Become First Market Maker in United Arab Emirates
Following fulfillment of technological and regulatory requirements as outlined by the regulator, NBAD expects to begin providing streaming liquidity across all UAE equities in earnest during the third quarter of this year, shortly after the microstates' markets are expected to be upgraded to "Emerging Market" status by the benchmark MSCI index.
”It is a very important step in the growth and development of the UAE’s equity markets. Coming ahead of the upgrade to Emerging Market status by the MSCI, the introduction of market makers should give greater depth and narrower spreads in listed equities," says Galen Moore, head of equity market making at NBAD.
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