Al Ramz's unit executes first Covered Short Selling using SLB facility on ADX

SectorFinancial Markets
CountryUnited Arab Emirates

Dubai – Mubasher: Al Ramz Capital, a 99% owned subsidiary of Al Ramz Corporation Investment and Development, has implemented the first Covered Short Selling (CSS) using the Stock Lending and Borrowing (SLB) facility on the Abu Dhabi Securities Exchange (ADX). The exchange's SLB facility enables investors to promote the yield of long-term holdings by lending securities to borrowers for an annualised fee while retaining all the rights of holding the securities, according to the ADX announced on Thursday. In addition, the SLB helps investors to hedge portfolios by facilitating covered short-selling. The Chairman of ADX, Mohamed Ali Al Shorafa Al Hammadi, said: "The launch of the CSS service is part of the exchange’s strategy to support the diversification of investment tools and more...