ADX partners with FTSE Russell to create new benchmark indices

ADX partners with FTSE Russell to create new benchmark indices

  • FTSE ADX General Index is replacing ADX General Index as of Monday 10th of January 2022.
  • FTSE ADX sector indices to replace six existing sector indices and introduce four new sector indices.
  • The partnership will work to introduce new co-branded indices for the ADX market during the course of the year.

ABU DHABI, January 10 2022: The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop co-branded indices, supporting the exchange’s recently launched derivatives market and bringing the exchange’s stock performance measures into line with global standards.

As of 10th of January 2022, the FTSE ADX General Index is replacing the ADX General Index, and FTSE ADX sector indices will take the place of the existing sector indices, leveraging the Industry Classification Benchmark. ADX is the first exchange in the region to make FTSE Russell its index administrator.  Further new indices will be co-developed under the partnership to support ADX’s vision of introducing new tradable index products on its market.  The exchange launched single stock futures in the fourth quarter of 2021 following an agreement sealed in September with NASDAQ in September to deliver matching, real time clearing and settlement technology as ADX broadens its asset class offerings.

Saeed Hamad Al Dhaheri, Chief Executive Officer and Managing Director of Abu Dhabi Securities Exchange commented: “Our partnership with FTSE Russell is part of ADX’s wide-ranging strategy to develop a dynamic exchange, which includes investment in state-of-the art market technology and increasing the opportunity set for investors and issuers.  The new range of FTSE-ADX indices will provide robust benchmarks and support the listing of index derivatives, ETFs other index-based products on the exchange.”  

Arne Stall, Chief Executive Officer, FTSE Russell, said: “ADX is an innovative and vibrant marketplace that empowers the UAE’s economy. We are delighted to work together to strengthen the country’s capital markets with open access to data, pricing, and performance metrics. Our collaboration confirms FTSE Russell’s commitment to the Middle East region and we look forward to announcing a range of new benchmarks in the coming months.”

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


Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management.  The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.    

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. 

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. 

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. 

FTSE Russell is wholly owned by London Stock Exchange Group. 

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