Sheikh Khaled bin Mohamed inaugurates new trading floor at Abu Dhabi Securities Exchange

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, inaugurated the new trading floor at the Abu Dhabi Securities Exchange (ADX).

The launch of the trading floor at ADX’s new premises coincides with the launch of ADX’s new brand, which furthers its ADX One strategy. The strategy comprises of 22 projects to encourage the listings pipeline, enhance corporate governance, and introduce new products and services, a statement said.

Mohammed Ali Al Shorafa Al Hammadi, chairman of Abu Dhabi Securities Exchange, said: “After 20 years of operation, ADX has reached a new stage of growth as demonstrated by the robust growth in market capitalisation, more sophisticated products and services, and a strong pipeline of listings.

“ADX’s new visual identity represents its position today as the second largest exchange by market capitalisation in the region, while the new location provides a state-of-the art platform to advance the exchange’s ambitious growth strategy and support Abu Dhabi Government’s vision for a fully diversified economy.”

The Abu Dhabi Securities Exchange General Index (ADI) reached 7,700 points for the first time this year, supported by a series of listings and participation by investors. More so, the index has gained 51 per cent year to date, while a number of companies have announced their intent to list in recent times.

ADNOC Drilling Company recently announced its intent to list on ADX, while ADQ also intends to proceed with listing shares of the Abu Dhabi Ports Company.

Read: ADQ announces intent to list Abu Dhabi Ports on ADX

Last month, ADX also said that it would cut in half its trading commission and extend trading hours in an attempt to boost liquidity in the market.

Read: Abu Dhabi Exchange cuts trading fees, extends trading hours

Trading fees will be reduced to 0.025 per cent from 0.05 per cent starting from September 1.