xCube Selected by Dubai Investments as a Liquidity Provider

Dubai Investment PJSC (DFM: DIC), a diversified investment group with a broad portfolio of businesses, announced today the appointment of xCube, a leading fintech company and market maker, as the Liquidity Provider for its shares listed on the Dubai Financial Market (DFM).

Agreement & Compliance

Under the terms of the one-year agreement, xCube will independently trade Dubai Investment shares starting today, 11th June 2024. xCube will enter two-way daily quotes into the market within the defined parameters of the mandate and in compliance with regulations set by the Dubai Financial Market (DFM) and SCA.

All necessary regulatory approvals have been secured.

Words From the Leaders

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, stated, "The strategic decision to appoint xCube as a liquidity provider shows our commitment to increase shareholder value by enhancing liquidity. This improvement of liquidity will directly benefit Dubai Investments shareholders by facilitating the trading of the shares more easily in the short term and promoting a higher valuation in the long term.”

Saad Chalabi, CEO of xCube, added, "We are grateful for the trust Dubai Investments has placed in us. Our aim is to leverage our technology and expertise in local markets to optimize the liquidity of Dubai Investments shares. This will support investors when trading on Dubai Investments shares by decreasing the bid ask spread and decreasing unwanted liquidity driven volatility."