The New York Inventory Trade, a part of Intercontinental Trade, Inc. (NYSE:ICE), and the Abu Dhabi Securities Trade (ADX) right now introduced that the 2 events have signed a memorandum of understanding to collaborate on quite a lot of key enterprise actions, together with the twin itemizing of corporations on each exchanges.
The NYSE and ADX will even discover alternatives to develop ETFs and information and index merchandise, in addition to collaborate on sustainability-related initiatives.
The settlement follows the announcement final week that ADX has chosen the ICE International Community to supply world institutional buyers direct entry to ADX market information and order entry. The MOU additionally builds on ICE’s broader dedication to the area, together with its collaboration with Abu Dhabi Nationwide Oil Firm to launch ICE Futures Abu Dhabi in 2021.
“The collaboration between ADX and NYSE fosters better connectivity between issuers and buyers by facilitating the benefit of twin listings, offering corporations with better visibility and entry to a bigger pool of buyers whereas providing them the chance to take part within the progress tales of corporations from numerous geographic areas,” mentioned Abdulla Salem Alnuaimi, CEO of the Abu Dhabi Securities Trade.
“With this collaboration, we improve the introduction of recent monetary services and products that cater to the wants of native and world buyers, together with modern funding autos, indices, and exchange-traded funds, in addition to work collectively on initiatives associated to sustainability. This collaboration represents a key second in ADX’s journey to strengthen Abu Dhabi’s place as a thriving world monetary heart, enabling twin listings, fostering connectivity, and opening the door to a brand new period of progress and limitless potential.”
The MOU is designed to help cross-border listings on the NYSE and ADX, in search of to supply every area’s sturdy investor base with entry to those securities and to assist drive financial progress.