•Collaboration underlines growing Egypt-UAE capital markets links
•Market making supports liquidity and trading activity
Beltone Market Maker, a subsidiary of Beltone Financial Holding, one of Egypt’s leading investment banks, has joined Nasdaq Dubai as a Member and will provide market making services on the region’s international exchange.
Beltone Market Maker will offer simultaneous bid and offer prices in selected securities listed on Nasdaq Dubai as part of its market making services, to support liquidity, attractive pricing, and active trading by investors. It will initially focus on market making in equities.
Aladdin Saba, Chairman of Beltone Financial, the parent company of Beltone Market Maker, said: “As an expanding and liquid exchange with a broad international investor base, Nasdaq Dubai provides attractive opportunities to make markets in a variety of securities.”
“We intend to continually strengthen our relationship with the exchange and its market participants in a range of asset classes, as part of Beltone’s strategy of dynamic growth within Egypt and across the region.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: “Beltone Market Maker’s arrival as a Member on Nasdaq Dubai underlines the expansion of capital markets cooperation that is underway between the UAE and Egypt as well as across the region.”
“As one of Egypt’s leading financial institutions, Beltone brings significant expertise and experience to the exchange, which will benefit both institutional and individual investors as we prepare for further equity and other listings and growing market activity.”
Beltone Market Maker acquired a licence to market make on the Egyptian Exchange in June 2014.
Nasdaq Dubai is the international financial exchange in the Middle East. It allows companies to benefit from a unique investor pool that combines regional and international wealth, making it a globally unique platform for companies to raise money and for investors to find exciting opportunities.