ABU DHABI: Chimera Capital LLC, an Abu Dhabi-based investment management firm and subsidiary of Chimera Investment LLC, has announced that Q Market Makers (QMM) has become a market maker for its four exchange-traded funds (ETFs) listed on the Abu Dhabi Stock Exchange. Securities Exchange (ADX).
QMM, part of the ADQ, was launched in 2020 and has over the past 18 months played an active role in increasing the liquidity and efficiency of the ADX, encouraging the participation of investors and resulting in an overall increase in trading activity in ADX-listed securities.
Syed Basar Shueb, President of Chimera Capital, said, “We are delighted to have QMM as the market maker for our four ADX-listed ETFs. By leveraging their specialized expertise, innovative technology and capital deployment capabilities, QMM will help grow Chimera’s ETF business. and price efficiency. QMM’s involvement further signifies the maturity of the ever-growing ETF market in the UAE. »
Saeed Hamad Al Dhaheri, Managing Director and CEO of ADX, said, “ADQ’s QMM has played an important role in the exchange’s strategy to attract new investors and issuers and deepen market liquidity. As part of our ADX One strategy, we are accelerating our efforts to encourage new and introduce innovative products and services that will enhance our momentum and entice more investors to participate in Abu Dhabi’s sustainable growth story.”
Magdi Shannon, CEO of QMM, said: “In its role as market maker, QMM will provide liquidity, ensuring that the price at which investors buy and sell is fair and reflects the value of the ETF’s underlying securities. This is essential. to the success of an ETF. We are excited to be part of the Chimera ETF ecosystem, as a market maker on all ETFs listed on ADX, and look forward to contributing to its success.
WAM/Amjad Saleh/Hatem Mohamed