Abu Dhabi Securities Exchange (ADX) has announced that it is making access easier to its exchange for investors registered on other UAE financial markets.
The ADX initiative applies to investors with investor numbers issued by other exchanges licenced by the Securities and Commodities Authority (SCA).
The move, which promotes increased participation in the country’s capital markets, allows investors with a National Investor Number (NIN) issued by other exchanges to trade eligible securities on ADX through a straight-forward application process.
The streamlined registration process only requires an investor’s existing NIN to be validated by a brokerage firm accredited by the Abu Dhabi Securities Exchange. In the case of a corporate entity, the investor must provide articles of incorporation along with a list of authorised signatories.
ADX has taken several steps over the last year to promote access to investment opportunities, including reducing fees and extending trading hours.
The exchange, which has widened its product offerings to include ETFs and derivatives, has experienced a strong increase liquidity, with trading values in the first quarter of 2022 almost doubling year on year.
Total market capitalisation has also risen significantly to approach $540 million (AED 2 trillion), driven by strong market performance and a series of listings on the main board and the ADX Growth Market.
Last week, the ADX welcomed the secondary bond listing of $700 million of fixed-rate amortising senior secured green bonds, marking the first green bond to be listed on the exchange.
The bonds were issued by Sweihan PV Power Company (SPPC), the project company that built, owns and operates Noor Abu Dhabi, one of the world’s largest single site solar projects.
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