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In a significant move for Middle Eastern financial markets, the Abu Dhabi Securities Exchange (ADX) has formed a strategic alliance with Intercontinental Exchange (NYSE:), Inc.’s ICE Global Network on Thursday, November 09, 2023. This partnership aims to enhance ADX’s global reach and significantly expand its investor base by providing direct market access to worldwide institutional investors through low latency data delivery. The integration of ADX into the ICE Global Network infrastructure, under the guidance of Margaret Niche and led by ADX’s CEO Abdulla Salem Alnuaimi, provides real-time access to market data and order entry across over 150 worldwide exchanges.
The ICE Global Network is renowned for its high-grade content, resilient networks, multi-asset market data, managed services, cloud-based data solutions, and connectivity to over 150 exchanges globally. Its global hubs will enhance ADX’s market connectivity. Its cloud offerings provide flexible global data access and end-to-end solutions that contribute to greater market transparency. CEO of ADX, Abdulla Salem Alnuaimi, emphasized the partnership’s role in promoting UAE’s sustainable growth and views this collaboration as a significant step towards creating a deeper, more liquid market.
The collaboration builds on ICE’s previous regional projects, including ICE Futures Abu Dhabi with ADNOC. It also underscores ADX’s role in UAE’s strategic development scheme aiming for a sustainable, diversified economy. This collaboration is central to ADX’s strategy to nurture a dynamic and sustainable capital market in the UAE.
ADX, a part of ADQ, one of the region’s largest holding companies, has seen increased international investor participation recently. It listed 13 securities this year, including three IPOs from ADNOC Gas ($2.5 billion), Presight AI ($500 million), and ADNOC L&S ($769 million) that collectively raised over $5.4 billion. These listings have attracted immense international demand, propelling ADX to the summit of the Mena region’s IPO market in 2023. New product launches and an ongoing partnership with ADNOC were also part of ADX’s expansion initiatives.
ADX’s CEO, Abdulla Salem Alnuaimi, and Margaret Niche, Head of ICE Global Network, expressed their enthusiasm for the partnership. Alnuaimi highlighted the strategic alignment of this collaboration with their goal to enhance market connectivity and facilitate global investor access using analytics, desktop solutions, hosting, and connectivity. Niche restated that their network was designed to connect investors with global marketplaces and opportunities. The partnership indicates solid market activity and investor confidence in ADX’s performance this year.
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