12 July 2007
Speaking at a press conference held at ADSM recently, Rashed Al Baloushi, Acting Director General, gave a detailed overview of market activity in the presence of managers and officials from ADSM as well as representatives from media agencies in UAE.
Al Baloushi explained that trade volumes have increased to (51.5) billion at a rate of (3.7%) during the first half of 2007. This increase was a result of increasing the number of trades to (18.3) billion in the first half of 2007 compared to (7.0) billion for the same period in 2006, which was executed via (465) thousand trades in first half of 2007 compared to (473) thousand trades for the same period in 2006.
'Total trading volume of shares from January to June this year was (35%) out of the total number of subscribed shares compared to (15.2%) during the same period in 2006. This demonstrates that the market is still liquid and the index has grown-up by (545) point at a rate of (18.2%) with closing at (3544.65) point since the beginning of 2007.'
In the first half of 2007, four new companies - Arkan building Materials, Fujairah Building Industries, Fujairah National Insurance Company, and Fujairah Trade Center- were listed in ADSM to raise the number of listed companies from (60) companies by the end of 2006 to (64) companies by the end of first half of 2007. The brokerage firms registered in ADSM also increased to (90) offices with (746) representatives.
Commenting on these figures, Mr Al Baloushi said: 'These positive figures came as a result of the fact that since January to June 2007, ADSM schedule was full of valuable and successful activities, seminars, and road-shows, in which will be added to ADSM record over the last seven years and still continuing to more progress under the wise leadership of H.H Sheikh Khalifa Bin Zayed Al-Nahyan, President of UAE and H.H. Sheikh Mohammed Bin Zayed Al- Nahyan, Crown Prince of Abu Dhabi Deputy Supreme Commander of UAE Armed Forces.'
In addition, ADSM finalized a series of road-shows held recently in London and New York during through intensive meetings with representatives of British companies, investors and finance houses in the UK and New York, also in the presence of representatives of the 100 major largest companies, experts and financial analysts, investment funds, pension funds as well as Portfolio Managers of major companies. The aim of such road-shows is to open more channels that support attracting foreign investments in UAE generally and ADSM in particular.
By the end of first half of 2007, ADSM experienced also the exchange of expertise and information among the regional and international financial markets through signing a memorandum of understanding (MoU) with Bahrain Securities Market which was designed to enhance and strengthen cooperation between the two markets especially in the matters related to depository, clearing & settlement of securities that are allowed to deal in both Bahrain and United Arab Emirates.
As for the international level, MoU was signed with Singapore Exchange Limited (SGX) one of the most sophisticated exchanges in the Far East. It was also followed by another MoU signed with Hong Kong Exchanges and Clearing Limited (HKEx) in the presence of H.E. Frederick Ma Secretary for Financial Services & Treasury of Hong Kong, H.E. Saeed Hamad Al Junaibi Consul General of the UAE Embassy in Hong Kong, in which both MoUs aimed to open channels for both exchanges between South Asia and the Middle East.
ADSM also organized a series of seminars and forums, and the most important was the 'Leader ship Forum' in March 7, 2007. The forum, entitled 'Exchange Traded Funds - Challenges and Opportunities', under the patronage of H.H. Sheikh Mohammed Bin Zayed Al- Nahyan, Crown Prince of Abu Dhabi Deputy Supreme Commander of UAE Armed Forces.
The event was the first of its kind to be held in Abu Dhabi, which highlighted the vital role ADSM has to play in Abu Dhabi's pioneering economic diversification programme. Also it was designed to promote the concept of Exchange Traded Funds (ETFs) in the UAE. 'An ETF is a form of collective investment scheme that tracks an index or market sector, which is managed as a company whose objective is to achieve the same return as a particular market index or sector. In that way, it is similar to an index fund except that it is listed on a stock exchange.'
Al Baloushi noted that:'The economic world depends primarily on the opportunities and this is what actually happened, and a good one was there for ADSM. A Memorandum of Understanding (MoU) has been signed with the (FTSE Group) which is a world-leader in the creation and management of equity bond and hedge fund indices. The aim of this MoU is to create a series of indices that will benefit the financial organizations in UAE as well as creating of new traded funds (ETF's).'
As for the huge increase in the number of traded investors at ADSM, that resulted in an enormous increase of brokerage firms and their representatives which reached (746) representatives spread all over the six branches of ADSM. Accordingly, we were in need to develop technical matters, which has been accomplished in reality in the first half the development of the (COMMUNICATION TRADING SERVERS) in ADSM main branch as well as the branches in Sharjah and Ras al-Khaimah, so that to accommodate the increase in the number of brokers in addition to the development of technical linkage between the main market with branches using a modern technique (MPLS) to enhance the efficiency and speed of the line.
Al Baloushi concluded that recent statistics showed that percentage of nationalism rated 74% of the total staff of ADSM.
Speaking at a press conference held at ADSM recently, Rashed Al Baloushi, Acting Director General, gave a detailed overview of market activity in the presence of managers and officials from ADSM as well as representatives from media agencies in UAE.
Al Baloushi explained that trade volumes have increased to (51.5) billion at a rate of (3.7%) during the first half of 2007. This increase was a result of increasing the number of trades to (18.3) billion in the first half of 2007 compared to (7.0) billion for the same period in 2006, which was executed via (465) thousand trades in first half of 2007 compared to (473) thousand trades for the same period in 2006.
'Total trading volume of shares from January to June this year was (35%) out of the total number of subscribed shares compared to (15.2%) during the same period in 2006. This demonstrates that the market is still liquid and the index has grown-up by (545) point at a rate of (18.2%) with closing at (3544.65) point since the beginning of 2007.'
In the first half of 2007, four new companies - Arkan building Materials, Fujairah Building Industries, Fujairah National Insurance Company, and Fujairah Trade Center- were listed in ADSM to raise the number of listed companies from (60) companies by the end of 2006 to (64) companies by the end of first half of 2007. The brokerage firms registered in ADSM also increased to (90) offices with (746) representatives.
Commenting on these figures, Mr Al Baloushi said: 'These positive figures came as a result of the fact that since January to June 2007, ADSM schedule was full of valuable and successful activities, seminars, and road-shows, in which will be added to ADSM record over the last seven years and still continuing to more progress under the wise leadership of H.H Sheikh Khalifa Bin Zayed Al-Nahyan, President of UAE and H.H. Sheikh Mohammed Bin Zayed Al- Nahyan, Crown Prince of Abu Dhabi Deputy Supreme Commander of UAE Armed Forces.'
In addition, ADSM finalized a series of road-shows held recently in London and New York during through intensive meetings with representatives of British companies, investors and finance houses in the UK and New York, also in the presence of representatives of the 100 major largest companies, experts and financial analysts, investment funds, pension funds as well as Portfolio Managers of major companies. The aim of such road-shows is to open more channels that support attracting foreign investments in UAE generally and ADSM in particular.
By the end of first half of 2007, ADSM experienced also the exchange of expertise and information among the regional and international financial markets through signing a memorandum of understanding (MoU) with Bahrain Securities Market which was designed to enhance and strengthen cooperation between the two markets especially in the matters related to depository, clearing & settlement of securities that are allowed to deal in both Bahrain and United Arab Emirates.
As for the international level, MoU was signed with Singapore Exchange Limited (SGX) one of the most sophisticated exchanges in the Far East. It was also followed by another MoU signed with Hong Kong Exchanges and Clearing Limited (HKEx) in the presence of H.E. Frederick Ma Secretary for Financial Services & Treasury of Hong Kong, H.E. Saeed Hamad Al Junaibi Consul General of the UAE Embassy in Hong Kong, in which both MoUs aimed to open channels for both exchanges between South Asia and the Middle East.
ADSM also organized a series of seminars and forums, and the most important was the 'Leader ship Forum' in March 7, 2007. The forum, entitled 'Exchange Traded Funds - Challenges and Opportunities', under the patronage of H.H. Sheikh Mohammed Bin Zayed Al- Nahyan, Crown Prince of Abu Dhabi Deputy Supreme Commander of UAE Armed Forces.
The event was the first of its kind to be held in Abu Dhabi, which highlighted the vital role ADSM has to play in Abu Dhabi's pioneering economic diversification programme. Also it was designed to promote the concept of Exchange Traded Funds (ETFs) in the UAE. 'An ETF is a form of collective investment scheme that tracks an index or market sector, which is managed as a company whose objective is to achieve the same return as a particular market index or sector. In that way, it is similar to an index fund except that it is listed on a stock exchange.'
Al Baloushi noted that:'The economic world depends primarily on the opportunities and this is what actually happened, and a good one was there for ADSM. A Memorandum of Understanding (MoU) has been signed with the (FTSE Group) which is a world-leader in the creation and management of equity bond and hedge fund indices. The aim of this MoU is to create a series of indices that will benefit the financial organizations in UAE as well as creating of new traded funds (ETF's).'
As for the huge increase in the number of traded investors at ADSM, that resulted in an enormous increase of brokerage firms and their representatives which reached (746) representatives spread all over the six branches of ADSM. Accordingly, we were in need to develop technical matters, which has been accomplished in reality in the first half the development of the (COMMUNICATION TRADING SERVERS) in ADSM main branch as well as the branches in Sharjah and Ras al-Khaimah, so that to accommodate the increase in the number of brokers in addition to the development of technical linkage between the main market with branches using a modern technique (MPLS) to enhance the efficiency and speed of the line.
Al Baloushi concluded that recent statistics showed that percentage of nationalism rated 74% of the total staff of ADSM.
© Press Release 2007
