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Sunday, 24 July 2016

ADGM and ADX look into new exchange on Abu Dhabi’s Al Maryah Island | The National

ADGM and ADX look into new exchange on Abu Dhabi’s Al Maryah Island | The National:

"Abu Dhabi Global Market (ADGM), the capital’s new financial free zone, and the Abu Dhabi Securities Exchange (ADX), its stock market, are to explore the possibility of setting up a new financial exchange on ADGM’s Al Maryah Island site.

The groundwork for a new exchange has been laid with a memorandum of understanding between the two bodies, signed yesterday. The agreement is intended to "foster bilateral cooperation" and "supports ADX’s commitment to the growth of the financial services sector in the emirate of Abu Dhabi," a joint statement said.


Ahmed Al Sayegh, the chairman of ADGM, said: "The MoU is a strategic and symbolic extension of our close relationship with ADX, which has been an important contributing partner since the inception of ADGM, and continues to be a significant stakeholder in the development of Abu Dhabi as an international economic hub. This collaboration allows both teams to work closely in establishing the objective of an exchange in ADGM.""



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