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Abu Dhabi, UAE: Abu Dhabi Securities Exchange (ADX), the leading financial market in the region, held meetings with the Amman Stock Exchange (ASE), Jordan Securities Commission (JSC), and representatives of the companies listed on ASE on the sidelines of ADX’s participation in the second Arab Capital Markets Conference on the 27th and 28th of March 2019, in the Jordanian Capital Amman.
The ADX delegation, which attended the conference from the 26th to the 29th of March, held a series of meetings with the ASE to discuss issues of mutual interest. The delegation also met with representatives of companies listed on ASE to identify and highlight the opportunities offered through dual listing on ADX. The Exchange delegation also visited JSC to discuss opportunities to enhance bilateral cooperation.
H.E. Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, noted that the Exchange seeks to enhance its bilateral relations and business ties with regional and international stakeholders, to showcase the investment opportunities, as well as the Exchange’s advanced regulatory, technical and legislative structure. He also reiterated the wide range of financial instruments, innovative services and resources available at ADX that enable investors to make sound investment decisions.
H.E. said: “Dual listing on ADX allows companies to access one of the world's largest financial conglomerates, as well as capital markets in the GCC and MENA region, it also enables them to benefit from a broad base of investors within a secure and stable economic and investment environment. Through dual listing on ADX, investors will be able to access more liquidity and enjoy the ease and efficiency of operations, benefiting both companies and their shareholders.”
ADX’s participation in the second Arab Capital Markets Conference, organized by the Union of Arab Securities Authorities in cooperation with JSC, was also aimed at promoting transparency and financial innovation. Additionally, a representative of the Exchange spoke during a panel discussion titled ‘Enhancing Governance in the Arab Capital Markets’.
H.E. Khalifa Salem Al Mansouri further stressed ADX’s commitment to improving corporate governance framework and enhancing disclosure and transparency to protect investors' rights. H.E. commented: “The Exchange continues to strive to improve financial markets’ performance to make them more sustainable and transparent, with a view of encouraging long-term sustainable investments and to promote institutional disclosure practices. The move is driven by ADX’s entry into the United Nations Sustainable Stock Exchanges Initiative, which aims to ensure that financial markets are more sustainable and transparent and improve the performance of listed companies at both environmental and social levels.”
ADX also holds various workshops on Corporate Governance and Board of Directors' role, in the presence of senior executives from relevant departments. Such workshops introduces the latest and most important developments in the field of corporate governance and underscore the importance of the application of the rules of governance in listed companies.
ADX has been elected to the World Federation of Exchanges (WFE) Sustainability Working Group, where the Exchange promotes sustainable practices internally, as well as at the level of listed companies and investors in the Exchange. Furthermore, ADX recently signed the ‘Abu Dhabi Sustainable Finance Declaration’, which was initiated by Abu Dhabi Global Market (ADGM) as a united front to create positive economic, social and environmental impact and advocate sustainable finance and investments for the long-term growth of the UAE’s economy.
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About 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.
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).
In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI and S&P Dow Jones. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.
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