Bahraini firm accredited as DFM liquidity provider

Sico BSC, the Bahrainbased investment management firm, has been accredited to provide liquidity and act as market maker for companies listed on Dubai Financial Market (DFM), it said yesterday.

The company said in a statement that the move would help create more “dynamic two-way markets that will enhance the liquidity of companies listed on the exchange.”

The accreditation builds on Sico’s status as the leading market-maker on the Bahrain Bourse since 1995, reinforcing its position as a pioneer and key player in GCC financial markets.

It also follows the admission of Sico as the first nonUAE based registered market maker and liquidity provider at the Abu Dhabi Securities Exchange (ADX) last month.

As market maker and liquidity provider, Sico, which is also a major participant in UAE markets through its Abu Dhabibased subsidiary, Sico Financial Brokerage LLC, will help narrow the spread between bids and offers, and encourage further trading.

Sico’s functions will include making bids and offers for shares available, identifying the volumes required for buying and selling, and finding the balance price for securities on the DFM.