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Asharq Al-Awsat

Business

Dubai - Asharq Al-Awsat

Dubai Launches ‘xCube’ to Boost Activities of Market Makers

Dubai plans to launch two funds with a total value of AED3 billion ($816 million) to boost trading on the stock markets. (Asharq Al-Awsat)

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has announced the launch of “xCube” company to organize and facilitate the activities of market maker companies in the Dubai Financial Market.

The step comes in line with the Dubai Securities and Exchange Higher Committee’s strategy aimed at increasing the size of the stock market in the Emirate to AED3 trillion ($816 billion) in the coming period.

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