The Abu Dhabi Securities Exchange (ADX) and the New York Stock Exchange (NYSE) have inked a memorandum of understanding (MOU) to enhance collaboration, focusing on dual listings, ETFs, data, index products, and sustainability initiatives. The agreement builds on ADX's recent selection of the ICE Global Network, extending direct access to ADX market data and order entry for global institutional investors.
This strategic partnership aligns with ICE's broader commitment to the region, emphasizing its collaboration with Abu Dhabi National Oil Company (ADNOC) and the launch of ICE Futures Abu Dhabi in 2021. Signed by John Tuttle, Vice Chair of NYSE, and Abdullah Salem Alnuaimi, CEO of ADX, the MOU signifies a pivotal moment in fostering connectivity, dual listings, and pursuing innovative financial products. In addition to unveiling its first-ever annual cash dividend, ADX's CEO emphasizes the collaboration's role in reinforcing Abu Dhabi's position as a global financial center.
Why it matters
“The New York Stock Exchange is pleased to sign this memorandum of understanding with the Abu Dhabi Securities Exchange, bringing together two dynamic, global organizations to drive innovation and growth in our markets. The agreement represents an exciting new initiative for the NYSE, building upon ICE’s investments in the region and allowing us to explore dual listings and other new products with ADX to benefit our listed companies and investors.” added John Tuttle.