Abu Dhabi Securities Exchange (ADX), one of the world’s fastest growing exchanges, appoints BNY Mellon, the world's largest custodian bank, to support dual listings on ADX by international companies. Through this collaboration, BNY Mellon will provide a bridge for ADX to connect to international exchange depositories (ICSDs), leveraging BNY Mellon’s global presence.
The initiative is part of ADX’s strategy to work with reputable international capital market entities to build innovative solutions that help enhance market structure and capabilities. The arrangement with BNY Mellon will serve international issuers to dual list their securities, initially from the US, to be then expanded to other global jurisdictions. It will additionally provide ADX investors new investment opportunities from global markets.
Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “We are excited to work with BNY Mellon to enhance our links with global exchange depositories and enable dual listings on our rapidly growing exchange. Appointing BNY Mellon, the world’s largest custodian, supports our strategy of strengthening and innovating our infrastructure and offering investors a wider range of unique growth opportunities. We will continue to explore further associations that reinforce our position as a leading exchange in the region.”
Hani Kablawi, Head of International at BNY Mellon, said: “With our decades-long presence in the region, we are delighted to be working with leading financial marketplace, ADX, to enable wider investor access to global financial instruments. We are focused on alleviating market complexity and connecting the financial ecosystem through innovative products and services that meet the needs of clients globally, and our appointment by ADX is a prime example of this.”
ADX has embarked in recent years on multiple new initiatives to attract investors and boost market liquidity. These include the introduction of a derivatives market in 2021, the introduction of a new benchmark FADX 15 Index, and the launch in 2022 of FADX 15 futures contract as the first index futures on its derivatives platform.
About BNY Mellon
Established in 1784, BNY Mellon is America’s oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $46.9 trillion in assets under custody and/or administration and $1.9 trillion in assets under management as of June 30, 2023. BNY Mellon has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
About Abu Dhabi Securities Exchange
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. On 17th March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.
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).
ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing