The agreement was signed by the Chief Executive Officer of Bahrain Bourse Sh. Khalifa bin Ebrahim Al-Khalifa, and the Chief Executive Officer of SICO Mrs. Najla Al-Shirawi.
Following the signing, Mrs. Al-Shirawi rang the bell to open the trading session at BHB.
According to the agreement, SICO will be able to perform all functions related to Market Making at Bahrain Bourse. Those functions include, but not limited to, making bids and offers for shares available, along with the volumes required for buy and sell as well as finding the balance price for the security by entering the bids and offers of securities.
Sh. Khalifa welcomed SICO as a Market Maker at Bahrain Bourse wishing them success.
Sh. Khalifa assured BHB’s continuous commitment and keenness to develop the investment environment in the capital markets sector in the Kingdom of Bahrain in cooperation with related parties in a way that will satisfy various needs of issuers of securities and investors.
“Market Making is one of the aspects BHB has realized that is quite important in developing and enhancing the investment environment.
BHB was eager to finalize all the legal, technical, and administrative aspects related to it in order to make Market Makers’ presence at the bourse of added value by increasing the depth of the market, and making investment at BHB more attractive to investors and positively reflected on the trading activity.
We hope to witness more Market Makers at the bourse especially that Resolution No.5 relating to free float of listed companies makes the presence of Market Makers feasible to both investors and Market Makers,” Sh. Khalifa added.
Mrs. Najla Al-Shirawi said, “We are delighted to become the first approved market maker on Bahrain Bourse.
SICO has played a major role in making a market on Bahraini equity and fixed income securities and will continue to offer its services and coverage of the Bahraini capital market; SICO supports new initiatives by Bahrain Bourse to provide greater depth and liquidity on the Bourse, which will further enhance the confidence of regional and international investors.”