ADQ’s QMM becomes market maker for Chimera Capital’s 4 ADX-listed ETFs

By Arya M Nair, Intern Reporter
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Chimera Capital, an Abu-Dhabi-based investment management firm and a subsidiary of Chimera Investment, has revealed that Q Market Makers (QMM) has become a market maker for its four Exchange Traded Funds (ETFs) listed on the Abu Dhabi Securities Exchange (ADX).

Launched by ADQ in 2020, QMM has been playing a key role in enhancing ADX’s liquidity and efficiency, as well as attracting investors and resulting in an overall growth in trading activity across ADX-listed securities.

Mr. Syed Basar Shueb, Chairman of Chimera Capital, commented that “We are pleased to have QMM as a market maker for our four ADX-listed ETFs. By harnessing their specialized expertise, innovative technology and capital deployment capabilities, QMM will help increase Chimera’s ETF activity and price efficiency. QMM’s involvement further signifies the maturity of the ever-growing ETF market in the UAE.”

Saeed Hamad Al Dhaheri
Saeed Hamad Al Dhaheri
MD & CEO – ADX

“ADQ’s QMM has played a significant role in the exchange’s strategy to attract new investors and issuers and deepen market liquidity. Under our ADX One strategy, we are accelerating efforts to encourage new listings and introduce innovative products and services that will enhance our dynamism and attract more investors to participate in Abu Dhabi’s sustainable growth story.”

Mr. Magdi Shannon, Chief Executive Officer of QMM, said that “In its role as a market maker, QMM will provide liquidity, ensuring the price that investors buy and sell at is fair and reflective of the value of the ETF’s underlying securities. This is critical to the success of an ETF. We are pleased to be part of the Chimera ETF ecosystem, as the market maker on all ADX-listed ETFs, and look forward to contributing to its success.”

Related: ADX rebrands its key equity market to ‘The Growth Market’


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