Friday, June 14, 2024

“FTSE ADX General” replaces the general code “Abu Dhabi Securities Exchange”


The Abu Dhabi Securities Exchange and FTSE Russell have entered into a partnership agreement for global codes under which they will collaborate to create joint codes with their own names.

Yesterday’s statement said that the “Abu Dhabi Securities Exchange” will support the recently launched financial derivatives market and will bring the performance of the shares listed on the Abu Dhabi Securities Exchange to international standards.

From January 10, 2022, the FTSE ADX General Index will replace the general index of the Abu Dhabi Stock Exchange, while the current sectoral codes will be replaced by new sectoral codes with the names of both parties. Reference Standard System (ICB) for classifying departments.

Both parties will launch a joint venture trademark with their names as the first product in the index derivatives segment available on the Abu Dhabi Securities Exchange this year, and its components will include shares of major companies. The region’s first financial market, which allows the global coding body “FTSE Russell” to manage its key indicators, the two parties then want to collaborate to create new market codes.

Saeed Hamad Al Taheeri, CEO and Managing Director of the Abu Dhabi Securities Exchange, said: Through continuous effort.

He added, “The new joint codes of (FTSE) and the Abu Dhabi Securities Exchange will provide strong definitions and support the marketing of index derivatives, ETFs and other index-based products.”

For his part, Arne Stall, CEO of FTSE Russell, said: “The Abu Dhabi Securities Exchange focuses on its vitality and innovation and plays a key role in supporting the growth of the UAE economy. We are happy.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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