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Next phase is about attracting further liquidity and institutional invetsment
Abu Dhabi – Chief Executive of Abu Dhabi Securities Exchange (ADX), Rashed Al Blooshi, said that one of the strong points in the creation of a long-term roadmap for economic progress for the Emirate comes in the establishment of a common framework aligning all policies and plans and fully engaging the private sector in their implementation”
Al Blooshi reiterated that ADX strategy is aligned with Abu Dhabi Economic Vision 2030 which emphasizes on enabling financial markets to become the key financiers of economic sectors and projects as part of Abu Dhabi’s Seven Areas of Ongoing Economic Policy Focus in the Vision.
“ADX has an important part to play to ensure that Abu Dhabi is a sustainable, diversified economy, through improving the investment climate in the Emirate and creating a business environment that is both competitive and flexible. In addition, ADX always seeks new opportunities in creating new financial instruments ADX Chief Executive said
ADX is expanding its offerings of digital services for its investors and stakeholders which is aimed towards attracting future opportunities and building a knowledge-based economy to support the strategic objectives of the Abu Dhabi Plan. The next phase for ADX will see more attempts to attract liquidity and institutional investments to the Exchange.
As ADX wants to stay at the forefront of technology to enable better service for its investors and stakeholders, ADX, during its participation at the GITEX Technology Week 2016, showcased a range of digital achievements and innovations that included the Exchange’s Blockchain eVoting application, the first of its kind for a financial market in MENA region, which utilizes the technologies of the Internet, Smart Phones, and real-time Bio-metric Identity Verification to provide a ‘bulletproof’ eVoting Management Solution.
This digital service will save time, costs and efforts and will add to the dynamism of the AGMs through high attendance and interaction with the decisions. It is also considered an effective way to interact via safe internet from anywhere in the world, that is by extracting investors’ data in the country and its UAE ID and biometrics electronically.
ADX also highlighted those digital achievements during its participation in roundtable discussions for Fujian investment Forum and Chongqing investment Forum in China. ADX is considered one of the best stock markets in the region in terms of return on investment with 62 out of 66 ADX listed companies open to foreign investors.
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About Abu Dhabi Securities Market (ADX)
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions.
These functions are:
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).
At the end of 2015, ADX had 71 listed securities with a market capitalization of AED 447 billion (USD 122 billion). Those securities include 66 public joint stock companies, 2 private joint stock companies, 1 Exchange Traded Fund (ETF), 1 Abu Dhabi Government
Fund, and 1 convertible bond. ADX listed companies are allocated in nine sectors; Banking, Real Estate, Consumer Staples, Investment and Financial Services, Industrial, Telecommunication, Services, Energy, and the Insurance sector.
ADX allows for investors to trade through any of the registered brokerages at the exchange through advanced electronic automated services. ADX has also signed a number of agreements with major financial institutions to provide for custody services, including renowned international corporations; namely the National Bank of Abu Dhabi (NBAD), HSBC, Standard Chartered, Deutsche Bank and Citi Banking Group.
ADX goals are in line with Abu Dhabi Government Economic Vision 2030. The 2030 economic plan plays a vital role in ADX strategy since it places the financial market in the context of economic and social development. The development would be through diverting savings towards investment in the various economic sectors and developing the financial infrastructure of Abu Dhabi to transform the emirate into one of the leading finance and services center in the region.
In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI index (Morgan Stanley Capital International) and S&P Dow Jones, thus greatly increasing the likelihood of inward global investment flows. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.
In 2015, ADX won the Most Innovative Exchange GCC 2015 Award. The award, given by Capital Finance International, celebrates achievement, innovation from an international perspective, recognizing organizations with innovative technology products backed by strong management, excellent service standards and sound business models. Capital Finance International is a leading print journal and online resource reporting on business, economics, and finance.
For more information, please contact:
Mr. Adel Maktoom Al Dhaheri
Manager of Corporate Communication & Digital Marketing
Marketing & Corporate Communication Department
Abu Dhabi Securities Exchange
Tel: 00971 (2) 6128716
Mobile: 00971 (50) 6221266
Email: adelm@adx.ae
© Press Release 2016
