ADX continues to develop its operations, launch strategic initiatives and provide innovative products and services based on global best practices in disclosure, transparency and corporate governance. This is in line with ADX’s endeavor and commitment to contribute towards the sustainable economic development of Abu Dhabi, the Abu Dhabi Economic Vision 2030, as well as Abu Dhabi’s plan to develop FinTech services, which aims to attract investments and enhance the competitiveness of the business environment in the Emirate.
Khalifa Al Mansouri, Acting Chief Executive of ADX, praised the outstanding achievements of the market, which are a result of a focused strategy and continuous quest to be the best financial market that is renowned for its innovation, attractiveness, transparency and support of the UAE economy.
Al Mansouri said: “ADX made these strides thanks to the efficiency, integrity and transparency it operates in, as well as the ceaseless team effort of its various departments. The market is focused on providing the best services and products for clients to invest their money in, while protecting their rights through fair dealing principles and by raising awareness on developments and investments, which bolsters financial and economic stability while increasing cash-flow levels.”
ADX was the first stock exchange to implement several pioneering initiatives in the region – it was the first stock market in the MENA region to list an Exchange Traded Funds (ETF) and to list private equity firms on the secondary market platform. ADX also adopted the eXtensible Business Reporting Language (XBRL) framework before any other marker in the region and it was the first to get an ISO 27001in information security certificate.
ADX was also the first stock market in region to disclose the names of shareholders owning 5% or more of the share capital of any listed company on its website, as well as the first in the MENA region to implement an automatic monitoring system (SMART). Furthermore, ADX is the first stock market in region to list sovereign government bonds – issued by the Maldives – which is a testament to the strong confidence in the stability of the market, as well as the advanced technical and organizational infrastructure for the listing and trading of securities.
Keen on providing a stable trading environment, innovative services and products in adherence with international best practice in disclosure, transparency and corporate governance, ADX was the first market in the region to launch the Technical Short Selling (TSS) service. It was also the first to launch the smart kiosk ‘Sahmi’, and the first in the MENA region to adopt blockchain technology in its services through e-voting for listed companies’ AGMs.
ADX is highly rated by international financial institutions, with the market being elevated to an Emerging Market Status by FTSE, Russel Investment, S&P, S&P Dow Jones and MSCI. The market has also won several awards, including the most Innovative Exchange REGION 2015 Award, the 4th Middle East Financial Markets Excellence Award 2016 and the Best Government-To-Customer (G2C) Service Of 2017.
As ADX sought to attract more foreign investment, the market was the first GCC stock exchange to highlight its global performance by launching several promotional campaigns since 2004. As part of its efforts to enhance effective communication with all its clients, ADX was one of the first markets to provide electronic and smart services, which enabled users to get reports. Furthermore, ADX expanded its presence by establishing centers and branches in Al Ain, Madinat Zayed, Fujairah, Ras Al Khaimah and Sharjah.
Abu Dhabi Securities Exchange (ADX) was established on 15th of November 2000 by Local Law No. (3) of 2000, the provisions of which vest the market with the necessary supervisory and executive powers to operate as a legal entity of autonomous status and to carry out independent finance and management to exercise its functions.
ADX provides integrated services in liquidity provision, rights issuance and market making. The market has also launched a range of digital services to meet the requirements of disclosure and transparency, as well as to ensure that information is communicated to shareholders and investors in real time, and within governance frameworks. This allows ADX to meet the various needs of listed companies, shareholders and financial analysts, thus ensuring that the best financial services in line with international standards are provided.