Bahrain Bourse approves Mubasher Company as Market Maker

Manama, Mar. 20 (BNA): Bahrain Bourse signed on Thursday, 16 March an agreement with Mubasher Company, licensing Mubasher to commence its market making services in Bahrain Bourse. The agreement was signed by Shaikh Khalifa Bin Ebrahim Al Khlaifa, CEO of Bahrain Bourse and Eng. Mohammed Rasheed Al Ballaa, Chairman of Mubasher. Shaikh Khalifa expressed his delightedness with the commencement of Mubasher's Market Making services in the Bourse, which will have a positive impact on increasing the market depth and enhancing the trading activity, given the wide experience Mubasher has along with the diversified network of offices and distinctive client database, making it one of the biggest brokerage companies in the region. Shaikh Khalifa also wished Mubasher success, noting that the completion of the Bourse's legislative, technological and technical requirements according to international standards participated in the presence of more than one market maker in the Bourse during a short period of time. This shows the need of the market to these services and the willingness of some companies to provide them in a professional manner. Shaikh Khalifa assured the commitment of the Bourse in developing its different work aspects in a way that meets the ambitions and expectations of all related parties, contributing to the investment climate of the capital sector and increasing the competitiveness of the Bourse in attracting more investments to all the economic sectors in the Kingdom of Bahrain, leading to the national economy’s prosperity. He also pointed that the presence of more than one market maker in the Bourse will benefit investors and improve the services provided to them. Chairman of Mubasher, Eng. Mohammed Rasheed Al Ballaa said that signing this market making agreement goes in line with the long-term strategy to enhance our presence in Bahrain and contribute to increase trading activity and improve market efficiency. It is worth mentioning that the market making guidelines issued by the Bourse highlighted the mandatory procedures to be followed by a market maker to apply to the exercise of market-making in the bourse. Legal, administrative, financial, technical and accounting requirements that must be met when submitting applications, as well as the need to meet the Capital Adequacy requirements are clarified in the Guidelines.