In a significant move for Middle Eastern financial markets, the Abu Dhabi Securities Exchange (ADX) has formed a strategic alliance with Intercontinental Exchange (NYSE:ICE), Inc.'s ICE Global Network on Thursday. This partnership aims to enhance ADX's global reach and significantly expand its investor base by providing direct market access to global institutional investors. The integration of ADX into the ICE Global Network infrastructure, under the guidance of Margaret Niche and led by ADX's CEO Abdulla Salem Alnuaimi, provides real-time access to market data and order entry across over 150 worldwide exchanges.
The ICE Global Network, with its global hubs, will enhance ADX's market connectivity. Its cloud offerings provide flexible global data access and end-to-end solutions that contribute to greater market transparency. CEO of ADX, Abdulla Salem Alnuaimi, emphasized the partnership's role in promoting UAE's sustainable growth and views this collaboration as a significant step towards creating a deeper, more liquid market.
The collaboration builds on ICE's previous regional projects, including ICE Futures Abu Dhabi with ADNOC. It also underscores ADX's role in UAE's strategic development scheme aiming for a sustainable, diversified economy.
ADX, a part of ADQ, one of the region's largest holding companies, has seen increased international investor participation recently. It listed 13 securities this year, including three IPOs from ADNOC Gas ($2.5 billion), Presight AI ($500 million), and ADNOC L&S ($769 million) that collectively raised over $5.4 billion. These listings have positioned ADX as a leader in the Mena IPO market in 2023. New product launches and an ongoing partnership with ADNOC were also part of ADX's expansion initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.