Commenting on winning the award, Mr. Rashed Al Balooshi, CEO of ADX said: “We are delighted at this international recognition which comes in a period where ADX is celebrating its 15th anniversary. It also coincides with the declaration of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, to make 2015 the year of innovation, and with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister of making innovation a dedicated method of work.”
CEO of ADX added that the award represents confirmation of the efforts that the Exchange has put into developing its services and creating an environment that makes of advanced services well thought out by a specialized team in order to meet the continuous needs of its investors and stakeholders. In line with the Economic Vision 2030, ADX supports the development of the Abu Dhabi capital market by providing more accessible and higher-value opportunities for its investors and stakeholders.
Mr. Al Balooshi reiterated, that the year 2015 witnessed the launch of a large number of services in the field of innovation and smart transformation by ADX. On top of those services was SAHMI (My Shares) service, which represents a substantial development in how financial markets provide services to investors. SAHMI allows issuance of an investor number in less than 60 seconds after the transaction is initiated using the ID card. Moreover, it offers an array of electronic services that include modification of existing investors’ details, obtaining financial reports and investment statements in a printed form including the investor’s portfolio and balance, the investors’ account statement, as well as the availability of the investor’s trading report and the provision of the electronic payment services for all the services offered by the Exchange.
ADX CEO also said that innovation is the main key to get a competitive edge within the financial sector and enhance the competitive position of the Emirate of Abu Dhabi in particular and the UAE in general.
For its part, Capital Finance International judging panel commended the Abu Dhabi Securities Exchange for its stalwart dedication to not just excellence in the delivery of investor services, but also to innovation. The judging panel also listed the Exchange’s most important achievements which led ADX to compete effectively for the award. Some of ADX achievements listed are: Adoption of XBRL (first in GCC), Implementing automatic monitoring system (Smart System) which can monitor and record automatically transactions and other trading activities on the Exchange (first in GCC), Disclosing, on ADX website, of names of shareholders owning 5% or more of the share capital of any listed company (first in GCC), Listing of Shares of Private Joint Stock Companies (first in GCC), Listing of ETF (first in GCC), Being Upgraded to Emerging Market status by MSCI (first, with Qatar, in world since Emerging Market status was established by MSCI in 2007).
It is worthy to note that ADX has made great efforts over the past year to enhance the efficiency and depth of the market and the services provided to investors, which has been crystallized through many achievements, including: the launching of market making activity in the exchange, smart application, issuing the new guidelines of CSD and Registration, introduce enhanced “circuit breaker” mechanism, as well as organize a conference on Transformation to Public Companies to address the policies, regulations, and challenges that hinder the efforts of private or family companies to becoming public joint stock ones.