Abu Dhabi Securities Exchange (ADX) to Launch Derivatives Market, Leveraging Nasdaq Technology
01 Settembre 2021 - 2:45PM
Today, Abu Dhabi Securities Exchange (ADX) announced that it has
taken a key step towards launching a derivatives market this year
by signing an agreement with Nasdaq (Nasdaq: NDAQ) to deliver
marketplace technology solutions, including matching, real-time
clearing and settlement technology.
ADX is rapidly expanding asset classes and
developing new offerings for both regional and international
investors. The ADX General Index (ADI) has recently reached 7700
points for the first time, supported by a series of listings and
increased participation by international investors. In addition,
the index has gained 52% year to date, making it one of the best
performing equity indexes in the world.
The exchange plans to launch single stock
futures and index futures in the fourth quarter of this year before
expanding to a wider range of derivative products. The initiative
will further diversify investment avenues and provide investors
with hedging tools for effective risk management.
The derivatives market will be accompanied by
introducing central counterparty clearing (CCP) to promote clearing
efficiency, stability and confidence in the market.
H.E. Mohammed Ali Al Shorafa Al Hammadi,
Chairman of ADX, commented: “ADX is on a journey to
significantly enhance liquidity and expand market capitalization
through our ‘ADX One’ strategy, which provides a clear road map for
further development of a vibrant exchange. By deepening our capital
markets and increasing the range of innovative products and
services, we are supporting the UAE’s strategy for economic
diversification, providing growth companies with favorable access
to global capital and allowing investors to participate in the
UAE’s ambitions.”
Saeed Hamad Al Dhaheri, Chief Executive
Officer of ADX, added: “Our commercial relationship with
Nasdaq dates to ADX’s establishment in 2000, and over the last two
decades, we have collaborated on a range of initiatives to ensure
investors benefit from efficient market infrastructure technology.
We are confident that the launch of a derivatives market will be
another important milestone, empowering investors on the exchange
who wish to implement sophisticated trading strategies. Our
strategy is to ensure that investors and issuers derive significant
benefits of a sophisticated marketplace by investing further in
technology, broadening our offering, and attracting a wider range
of institutional investors.”
Lars Ottersgård, Executive Vice
President and Head of Nasdaq Market Technology, said: “ADX
continues to be an industry leader in innovating and evolving the
Middle East’s capital market ecosystem. By leveraging Nasdaq’s
robust and flexible technology solutions, ADX can further evolve
its endeavors to expand into a leading derivatives marketplace and
one of the largest multi-asset marketplaces in the Middle East. We
look forward to progressing our technology partnership and
supporting ADX in their growth journey.”
Nasdaq’s end-to-end market technology powers more than 2,300
companies in 50 countries, spanning the world’s financial industry,
including capital markets infrastructure operators, market
participants, banks, and regulators.
The ADX One strategy, launched at the start of 2021, aims to
bring a broader offering of products and services to market and
invest in state-of-the-art infrastructure in partnership with
global market leaders. As of August 2021, ADX has 78 companies
listed on its main and Second Market.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software and services enables clients to optimize and
execute their business vision with confidence. To learn more about
the company, technology solutions and career opportunities, visit
us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
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.
Media Contacts
Nasdaq
Ryan WellsMobile: +1 646 648 3887ryan.wells@nasdaq.com
Yan-yan TongMobile: +1 240 721 80
66yan-yan.tong@nasdaq.com
ADX
Abdulrahman Saleh ALKhateebSenior Manager of
Corporate Communication & Digital Marketing, ADXMobile: +971
(50) 668 9733Email: ALKhateebA@adx.ae
Tasha YoungDirector, Brunswick GroupMobile: +971
(56) 174 8207Email: tyoung@brunswickgroup.com
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