In a resounding affirmation of its market dominance and commitment to sustainability, the Abu Dhabi Securities Exchange (ADX) was honoured with two prestigious awards at the Annual Conference of the Arab Federation of Capital Markets (AFCM), held this year in Doha, Qatar. Hosted by the Qatar Stock Exchange, the conference spotlighted ADX as a beacon of innovation and performance in the Arab financial sector.
ADX received the accolade for the Best Arab Stock Exchange – Price-to-Return Ratio Performance, a testament to its remarkable track record which has consistently outpaced the MSCI Emerging Markets Index over the last five years. The ADX General Index, a barometer of market health, has been ranked among the top four globally, underscoring the exchange’s robust growth and market stability.
In terms of market capitalisation, Abu Dhabi Securities Exchange reported an impressive year-on-year growth of 17%, reaching a new milestone of AED 3 trillion. This growth not only reflects the exchange’s expanding portfolio but also its ability to attract a diverse group of investors, further cementing its status as a premier trading platform in the region.
The second award recognized ADX’s integration of Environmental and Social Governance Standards (ESG), honoring it as the Best Arab Stock Exchange for ESG. A proactive member of the UN’s Sustainable Stock Exchanges initiative, ADX has played a pivotal role in promoting sustainability through comprehensive ESG disclosure guidelines and the launch of an ESG index in partnership with FTSE Russell.
Abdulla Salem Al Nuaimi, CEO of Abu Dhabi Securities Exchange, expressed gratitude for the accolades: “These awards are not just a recognition of ADX’s dedication but also reflect the vibrant economy of Abu Dhabi and the UAE. Our commitment as a market enabler and financial hub is to enhance liquidity, connectivity, and sustainable growth, in line with our continuous efforts to support the economic advancement of the region.”
ADX’s commitment to excellence and innovation is evident in its significant growth metrics from the previous year. In 2023, the exchange saw a 37% increase in trading activity and a 35% rise in foreign ownership stakes in listed companies. Notably, the exchange welcomed 50,000 new investors, a nearly 65% increase from the year before, and secured the 7th global position for IPO proceeds, with six IPOs collectively raising approximately US$5.6 billion.
Adding to its sustainable initiatives, ADX listed the first-ever dirham-denominated Green Sukuk issued by First Abu Dhabi Bank, valued at AED1.3 billion, contributing to a total of seven green debt instruments on the exchange.
The AFCM conference serves as a crucial forum for discussing the dynamic challenges and opportunities within the Arab capital markets, bringing together key stakeholders to shape the financial landscape of the region. ADX’s dual recognition at this esteemed event not only celebrates its current achievements but also sets the stage for future innovations in the Arab financial marketplace.
