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English news

26-Jan-2016

National Bank of Abu Dhabi has shut market-making operation

National Bank of Abu Dhabi (NBAD) has shut its equity market-making operation less than a year after launch, two sources aware of the matter said on Monday. The United Arab Emirates' largest lender by assets was the Abu Dhabi exchange's only official market-maker. NBAD scrapped the equity market-making business at the end of 2015, the two sources said on Monday, speaking on condition of anonymity because the information had not been made public. One of the sources said that the move was because the venture had proved unprofitable. (Reuters)

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