Chimera Capital LLC, an Abu-Dhabi-based investment management firm, has announced that BHM Capital, a UAE-based financial services firm, has become a market maker for three of Chimera’s ADX-listed and two (2) of its DFM-listed ETFs.
More specifically, BHM Capital will act as a market maker for the ADX-listed Chimera S&P UAE Shariah ETF-Accumulating (CHAESH), the Chimera S&P UAE UCITS ETF-Income (CHAEIN) and the Chimera FTSE ADX 15 ETF (CHADX15). Additonally, BHM Capital will become a market maker for the DFM-listed Chimera S&P UAE Shariah ETF-Income (CHAESHIN) and the Chimera S&P UCITS ETF-Accumulating (CHAE).
BHM Capital, established in 2006, is a licensed Market Maker on the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), and is a key source of liquidity for the UAE’s capital markets. The company’s market-making division acts as a Liquidity Provider (LP), helping UAE-listed companies increase their share turnover.
Sherif Salem, Chief Investment Officer – Public Markets at Chimera Capital, says: “We are pleased to have BHM Capital as a market maker for five of Chimera’s ADX and DFM-listed ETFs. Their specialised expertise will help increase the ETFs’ liquidity and ensure better price efficiency. This, in turn, will further enhance the ETF ecosystem in the UAE and strengthen investor confidence and appetite in local ETFs.”
Abdel Hadi Al Sadi, Chief Executive Officer of BHM Capital, says: “As a leading market maker, we look forward to supporting Chimera as it continues to lead the development of the regional ETF landscape. By harnessing our expertise and unique fintech solutions, we will provide liquidity to five of Chimera’s ADX and DFM-listed ETFs, ensuring the quick and orderly trading of ETFs.”