The Abu Dhabi Securities Exchange (ADX) has gained the Most Innovative Exchange GCC 2015 Award.
The award, given by Capital Finance International, celebrates achievement, innovation from a world perspective, recognizing organizations with progressive know-how merchandise backed by robust administration, wonderful service requirements and sound enterprise fashions.
Capital Finance International is a number one print journal and on-line useful resource reporting on enterprise, economics, and finance.
Commenting on profitable the award, Mr. Rashed Al Balooshi, CEO of ADX stated: “We are delighted at this worldwide recognition which is available in a interval the place ADX is celebrating its fifteenth anniversary. It additionally coincides with the declaration of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, to make 2015 the yr of innovation, and with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister of creating innovation a devoted technique of labor.”
CEO of ADX added that “The award represents affirmation of the efforts that the Exchange has put into creating its providers and creating an surroundings that makes of superior providers properly thought out by a specialised group with a purpose to meet the continual wants of its buyers and stakeholders. In line with the Economic Vision 2030, ADX helps the event of the Abu Dhabi capital market by offering extra accessible and better-worth alternatives for its buyers and stakeholders.”
Mr. Al Balooshi reiterated, that the yr 2015 witnessed the launch of numerous providers within the subject of innovation and sensible transformation by ADX. On prime of these providers was SAHMI (My Shares) service, which represents a considerable improvement in how monetary markets present providers to buyers. SAHMI permits issuance of an investor quantity in lower than 60 seconds after the transaction is initiated utilizing the ID card. Moreover, it provides an array of digital providers that embrace modification of present buyers’ particulars, acquiring monetary stories and funding statements in a printed type together with the investor’s portfolio and stability, the buyers’ account assertion, in addition to the supply of the investor’s buying and selling report and the supply of the digital cost providers for all of the providers provided by the Exchange.
ADX CEO additionally stated that “Innovation is the primary key to get a aggressive edge inside the monetary sector and improve the aggressive place of the Emirate of Abu Dhabi particularly and the UAE typically.”
For its half, Capital Finance International judging panel recommended the Abu Dhabi Securities Exchange for its stalwart dedication to not simply excellence within the supply of investor providers, but in addition to innovation. The judging panel additionally listed the Exchange’s most essential achievements which led ADX to compete successfully for the award.
Some of ADX achievements listed are: Adoption of XBRL (first in GCC), Implementing automated monitoring system (Smart System) which may monitor and report routinely transactions and different buying and selling actions on the Exchange (first in GCC), Disclosing, on ADX web site, of names of shareholders proudly owning H% or extra of the share capital of any listed firm (first in GCC), Listing of Shares of Private Joint Stock Companies (first in GCC), Listing of ETF (first in GCC), Being Upgraded to Emerging Market standing by MSCI (first, with Qatar, in world since Emerging Market standing was established by MSCI in 2007).
It is worthy to notice that ADX has made nice efforts over the previous yr to reinforce the effectivity and depth of the market and the providers offered to buyers, which has been crystallized by means of many achievements, together with: the launching of market making exercise within the change, sensible software, issuing the brand new tips of CSD and Registration, introduce enhanced “circuit breaker” mechanism, in addition to manage a convention on Transformation to Public Companies to deal with the insurance policies, laws, and challenges that hinder the efforts of personal or household corporations to turning into public joint inventory ones.
Source: Press Release