The Abu Dhabi Securities Exchange (ADX) announced on Wednesday a new streamlined process that will ease investors’ access to the local bourse, in a move to shore up the country’s capital markets.
The initiative enables investors registered with other UAE stock markets that are licensed by the Securities and Commodities Authority (SCA) to trade on ADX without going through a complicated process.
Under the program, investors holding a National Investor Number (NIN) issued by other exchanges can trade eligible securities on ADX by having their NIN validated by an accredited brokerage firm.
However, in the case of a corporate entity, the ADX requires the investor to provide articles of incorporation, along with a list of authorised signatories.
ADX has taken several steps over the last year to attract more investors, including reducing fees and extending trading hours.
(Reporting by Cleofe Maceda; editing by Seban Scaria)