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Abu Dhabi Securities Exchange, ADX, today celebrated the joining of SHUAA Capital’s brokerage subsidiary ‘Integrated Securities’ to the list of companies providing the technical short selling, TSS, service at the exchange.
This makes Integrated Securities the third company to provide such service on the ADX. The ceremony included ringing of the opening bell on the ADX trading floor in the presence of representatives and the executive management of both parties.
Speaking on the occasion, Rashed Al Blooshi, ADX Chief Executive, said, "We are pleased to have one of the UAE’s top brokerage firms Integrated Securities added to the list of companies that provide the Technical Short Selling service at ADX. The launch of the TSS service is part of the Exchange’s strategy to increase market cap and products in order to attract and leverage a wider range of investors through diversification of investment tools, which in turn will help in raising the levels of liquidity to match global Exchanges."
He added that ADX is continually developing the services it provides to investors and stakeholders alike, and continues its efforts to develop and launch strategic initiatives. This is done in order to enhance the UAE’s investment structure and support its sustainable economic development, as part of ADX’s mission to contribute to Abu Dhabi Economic Vision 2030.
Brokerage companies will benefit from this service on behalf of their customers, the Market Maker, as well as any side that ADX finds fit for this service. It was empowered in a gradual application system.
Following the recent acquisition of Integrated Securities by SHUAA Capital, Fawad Tariq-Khan, Chief Executive Officer of SHUAA Capital and now Board member at Integrated Securities, said, "We are pleased to now be able to offer our client base the ability to take short positions on ADX listed stocks. With the introduction of short selling investors are now able to benefit from both upside and downside market moves. This is Integrated Securities’ first activity officially as a wholly owned subsidiary of SHUAA Capital, and the addition of this valuable offering to our brokerage suite is line with the overall Group’s commitment to establish the premier regional brokerage house operating out of the UAE".
On October 2017, ADX launched the TSS service, to be the first market in the region to provide such service, targeting the enhancement of investment liquidity, pricing control with their fair value and promoting the investment culture in line with global exchanges.
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