Capital Markets
From The Report: Abu Dhabi 2015
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The Abu Dhabi Securities Exchange (ADX) was upgraded to emerging market status in 2014, and with total market capitalisation of more than $126.1bn as of late January 2015, it ranks first among the UAE’s three different exchanges. In addition to this, 2014 witnessed the first listing of a government bond on the ADX and the implementation of new rules guiding the listing of Islamic bonds, while technical upgrades to the exchange saw the introduction of NASDAQ OMX’s X-Stream Trading technology. The expected 2015 launch of Abu Dhabi Global Market, the UAE’s second financial free zone, which will be organised around a separate regulatory structure, an independent companies registrar and a financial services regulator, is expected to boost activity in the sector, helping to further establish the emirate as a centre of global wealth management.

This chapter contains an interview with Ahmed Al Sayegh, Chairman, Abu Dhabi Global Market; and Rashed Al Balooshi, CEO, Abu Dhabi Securities Exchange.

Articles from this Chapter

Overview

Emerging market status and updated licensing rules spur growth
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The emirate’s capital markets stand at an interesting point in their short history. Having recovered from the effects of the global economic crisis, Abu Dhabi was recently upgraded to emerging market status by two of the world’s most influential indexers, as the exchange prepares for expansion. In the meantime, Abu Dhabi’s first financial free zone is rapidly taking shape on Al Maryah Island. The combined effect of these developments will be a deepening of the emirate’s capital markets –…

Interview

Supporting growth: OBG talks to Ahmed Al Sayegh, Chairman, Abu Dhabi Global Market (ADGM)
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Interview:Ahmed Al Sayegh What is being done to attract international financial institutions in the areas of private banking, wealth management and asset management? AHMED AL SAYEGH: The various local and regional institutions operating in Abu Dhabi today are already global players in the financial community, with similar needs and demands to their international peers. ADGM aims to provide these institutions with a well-regulated platform, in doing so enabling member companies to conduct…

Interview

Rashed Al Balooshi, CEO, Abu Dhabi Securities Exchange (ADX): Interview
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Interview:Rashed Al Balooshi How will the MSCI upgrade help to diversify liquidity sources and increase market capitalisation? RASHED AL BALOOSHI: Over $9trn is estimated to be bench-marked to MSCI indices worldwide. The MSCI UAE Index has a pro-forma weight of 0.58% on the MSCI Emerging Markets Index, while the MSCI UAE Small Cap Index has a pro-forma weight of 0.85% on the MSCI Emerging Markets Small Cap Index. The MSCI upgrade will focus investors’ attention on the UAE, which could make…

Analysis

Boosting the bond market: Regulatory reforms encourage more listings and trades
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The development of a vibrant primary and secondary debt market in Abu Dhabi and the wider UAE would bring manifold benefits, acting as an alternative source of funding for the emirate’s growing companies that presently rely on lending by banks. It would also provide a welcome boost to the asset management industry by expanding the number of financial instruments available to Abu Dhabi’s large and financially savvy investment community. However, the lack of sovereign issuances in recent years…