“The survey that covered brokers, dealers, board members of the listed companies, and investors has stressed the fact that more training is needed. These are highly technical innovations that demand advanced practices in order to achieve best results of expansion,” said Mr. Rashed Al Blooshi, Chief Executive of ADX.
Recent training courses and survey showed that brokers, funds and dealers request intensive training on technical short selling. As a result, the technical short selling will not start by the second quarter of the year as scheduled, but will undergo further preparations to ensure that investors are technologically aware of the market instruments.
Technical short selling enables investors to sell shares they don’t own, yet will have to afford during the settlement period. This service will benefit brokers and market makers alike as well as any other party that ADX deems suitable.
“ADX emerged as a transparent market in the service of UAE and its economy, through advanced control standards that ensure safety and investment awareness. As much as we reached global levels, as much as we controlled the best standards in digital services.” said Mr. Al-Blooshi.
ADX launched a number of innovations in GITEX2016 including Blockchain technology, SAHMI services, the smart watch, as well as the new ADX website. In addition, it conducted specialized training session for university students on advanced techniques of investment.
“The development partnership in UAE requests that we all work within Abu Dhabi 2030 Vision and within qualified investment environment. This is what makes ADX in constant dialogue with all dealers in order to satisfy their demands after ensuring sufficient training. I am delighted to see the brokers are well-prepared to educate their staff on technical short selling that will provide added value to the market” said Mr. Al Blooshi.