Abu Dhabi – Mubasher: The UAE-based Brokerage firm xCube has been officially approved as a trading and clearing member as well as a market maker on the Abu Dhabi Securities Exchange (ADX), which will allow investors to access listed equities through advanced trading capabilities and unique features of its platform.
The securities brokerage and market maker will offer automated securities lending and borrowing (SLB) and short selling for ADX-listed stocks, according to a press release
It addition, xCube will be providing price stabilisation for ADX IPOs and offering liquidity provision services to support ADX-listed securities. The entry to Abu Dhabi’s capital market also introduces automated securities lending and borrowing for ADX-listed stocks, enabling investors to enhance the yield of their holdings while giving them access to short selling, all at a click of a button.
As a market maker, xCube aims to further enhance market liquidity in Abu Dhabi’s capital market while offering industry leading issuer services.
Chief Exchange Operations Office of ADX, Saker Asllan, said: "We are pleased to welcome xCube to ADX. We look forward to xCube adding more dynamism to the marketplace by supporting investors in their activities through xCube’s services.”
Meanwhile, the CEO of xCube, Saad Chalabi, noted: "Becoming a member on ADX as a trading and clearing broker and market maker is a key milestone for xCube.”
Chalabi added: “Our innovative trading solutions, including automated SLB for ADX stocks, will enable investors to trade with greater efficiency and flexibility. In addition, our market-making offerings of price stabilisation and liquidity provision will give ADX IPOs and listings another strong option to choose from.”
The CEO concluded: “We remain committed to strengthening market liquidity and providing seamless access and execution for the UAE capital markets.”
