Dubai is launching a company to organise and promote the activities of market maker companies in the Dubai Financial Market to help the bourse attract more capital.
The company, called xCube, will develop and adopt algorithms and technology to perform market-making activities and high frequency trading on both cash equities and derivatives listed on local markets, the UAE Media Office said in a statement on Wednesday.
Essa Kazim has been appointed the chairman of xCube, while Arif Amiri, Saeed Al Awar, Hind bint Mohammed bin Kharbash and Jacques Visser will be its board members.
“Both retail investors and institutional investors will benefit from the improved spreads and the lower volatility that often results from market makers playing an active role in markets," said Mr Kazim.
“By bringing the latest technologies and know-how in market making to the local markets, we anticipate renewed interest from investors both locally and globally.”
The development comes as Dubai plans to list 10 government and state-owned companies on the DFM as part of a broader strategy to double the financial market's size to Dh3 trillion ($816.7 billion).
Dubai also plans to launch two funds with a total value of Dh3bn to boost trading on the stock markets and encourage small and medium companies to list on its financial markets.
Emirates Central Cooling Systems Corporation, better known as Empower, as well as government-owned utility company, Dubai Water and Electricity Authority and Dubai road toll system Salik are to be listed on DFM in the coming months. Tecom, the owner and operator of investment free zones in the emirate, will also be listed as part of the plans revealed by officials last year.
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'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
