ADX and FTSE Russell collaborate to create a new benchmark index

The Abu Dhabi Stock Exchange (ADX) and FTSE Russell have collaborated to develop a co-branded index that supports the exchange’s recently launched derivatives market and brings the exchange’s stock performance indicators to global standards.

As of 10^day From January 2022, the FTSE ADX Composite Index will replace the ADX Composite Index, and the FTSE ADX Industry Index will replace the existing industry index, using industry classification benchmarks. ADX is the first exchange in the region to make FTSE Russell its index administrator. Under the partnership, more new indexes will be jointly developed to support ADX’s vision of launching new tradable index products on its market. As ADX expands its asset class products, the exchange reached an agreement with NASDAQ in September to provide matching, real-time clearing and settlement technology, and subsequently the exchange launched single stock futures in the fourth quarter of 2021.

Saeed Hamad Al Dhaheri, CEO and Managing Director of Abu Dhabi Stock Exchange Commented: “Our partnership with FTSE Russell is part of ADX’s broad strategy to develop a dynamic exchange, which includes investment in the most advanced market technologies and increased opportunities for investors and issuers. New FTSE-ADX The index series will provide a robust benchmark and support the listing of index derivatives, ETFs and other index-based products on exchanges.”

Arne Stall, CEO of FTSE Russell, Said: “ADX is an innovative and dynamic market that empowers the UAE’s economy. We are delighted to be able to strengthen the country’s capital market through open access to data, pricing and performance indicators. Our cooperation confirms FTSE Russell Regarding the commitments in the Middle East, we look forward to announcing a series of new benchmarks in the coming months.”

ADX’s benchmark index ADI broke the 9,000-point threshold for the first time in 2021. The benchmark index rose 64% last year, making it one of the best performing exchanges in the world. At the same time, the market value of the exchange more than doubled to 1.6 trillion dirhams and net foreign investment reached 15.2 billion dirhams.