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ABU DHABI – The Abu Dhabi Stock Exchange (ADX) and FTSE Russell, under their index partnership, have jointly developed a new benchmark, the FTSE ADX Growth Market Index (FADGMI), which will track ADX’s recently renamed Growth market segment performance.
The new FADGMI index, which goes live today, includes eligible growth market constituents and will provide investors with the ability to mimic the performance of growth markets.
The launch of FADGMI is the result of ADX’s successful partnership with FTSE Russell, which follows the March launch of the FTSE ADX 15 Index (FADX15), a blue-chip benchmark for the 15 largest and most liquid companies on the ADX. More co-branded indices are expected to be launched under the partnership in the coming months.
ADX Growth Market, a new brand for Second Market, is an emerging equity segment of the exchange that connects investors and private companies across industries as diverse as sports, transportation, wholesale trade and healthcare.
ADX’s partnership with FTSE Russell, the first of its kind in the region, is part of the exchange’s ambitious strategy to provide its investors with a world-class benchmark index and further expand its product offering. This includes the launch of a derivatives market with single stock futures in the fourth quarter of 2021 and the launch of FADX15 index futures in June this year.
Saeed Hamad Al Dhaheri, Managing Director and CEO, Abu Dhabi Stock Exchange, commented: “The launch of the FTSE ADX Growth Market Index (FADGMI) demonstrates our commitment to providing market participants with new benchmarks that meet world-class standards, particularly The exchange’s fast-growing international investor base. The new index will allow investors to track exciting opportunities in growth market sectors and make informed investment decisions to better manage their portfolios. Our partnership with FTSE Russell’s partnership is an important part of increasing liquidity and supporting the exchange’s market capitalization growth.”
Arne Staal, CEO of FTSE Russell, said: “The launch of the FADGMI Index is another important milestone in our strategic partnership with ADX, leveraging FTSE Russell’s world-class expertise for one of the fastest growing exchanges in the region.”
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