Abu Dhabi Securities Exchange (ADX) has selected the ICE Global Network from Intercontinental Exchange to offer direct market access to global institutional investors.
The initiative is designed to expand ADX’s global investor base through facilitating real-time access to market data and order entry.
An ICE spokesperson told BEST EXECUTION: “When we talk about Direct Market Access, we’re talking about giving institutional investors in key markets around the world the ability to see real-time data and trade as if they were near the exchange. So it opens up the market to a much broader audience.”
“We’re optimistic about other markets in the Middle East adopting the ICE Global Network – it has been a valuable tool for most of the best-known markets around the world. For ADX, direct market access gives them the ability to open their liquidity to a much broader group of investors globally,” the spokesperson added.
“The ICE Global Network is already used by over 150 exchanges and marketplaces around the world, and we look forward to broadening its adoption in growing regions like the Middle East,” the spokesperson concluded.
ADX CEO Abdulla Salem Alnuaimi said the collaboration aligns with the exchange’s goal to enhance connectivity in the market and boost access to one of the world’s fastest growing markets for global investors across Europe, Asia and the US.
“The strengthening of Abu Dhabi’s dynamic capital market will serve to support the long-term sustainable growth of the UAE economy and the exchange will continue to explore partnerships that support both regional and global connectivity as well as a deeper and more liquid market,” Alnuaimi added.
The addition of ADX to ICE Global Network leverages ICE’s previous work in the region partnering with the Abu Dhabi National Oil Company (ADNOC) to create ICE Futures Abu Dhabi.
Margaret Niche, head of ICE Global Network, said: “Our network was designed to connect investors with marketplaces and opportunities globally and our work with ADX is a perfect match for that purpose.”
“The ICE Global Network offers a portfolio of solutions for low latency data delivery that connects firms around the world and is part of our global data business which provides multi-asset market data and analytics, desktop solutions, hosting and connectivity that provide greater market transparency and helps our customers manage risk in evolving markets,” Niche added.
This year, ADX listed 13 securities, including three IPOs that raised more than $5.4 billion.
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