Dubai: Abu Dhabi Securities Exchange said on Wednesday it has listed $1.5 billion (Dh5.5 billion) government bonds maturing in 2019, a step seen to boost liquidity in the bond market.

The bond will have a dual listing on the London Stock Exchange as well, helping investors to trade both on LSE and ADX simultaneously.

The National Bank of Abu Dhabi (NBAD) will act as ADX’s account operator. Settlement and clearing will take place via NBAD through Euroclear.

“…boosting investment flows and institutional participation is one of the most important priorities of ADX in the next stage as they have a significant impact in attracting capital to the Emirate of Abu Dhabi and in promoting the emirate as a preferred destination for global investment,” said Rashed Al Balooshi, CEO of ADX.

There are currently three companies trading on ADX which are cross listed, which are Ooredoo, Sudatel, and Oman and Emirates Investment Holding Company. Only one other bond is listed on ADX, which is by NBAD in the form of subordinated convertible notes.

“There is a push to get more bonds listed by the ADX, it’s a positive step and this would act as a benchmark for the other bonds,” said Saleem Khokhar, head of equities at NBAD’s asset management group told Gulf News.

UAE market may see more bond issues by next year after the regulator eased rules for new issuances, a move that can lead to a robust bond market, market participants said last month.

Bond and sukuk issuances in the UAE during the first half of this year exceeded Dh44.2 billion, accounting for almost 55 per cent of the total issuances in the Middle East, according to a report.

To boost the bond market, the SCA cut the minimum value of issuance to Dh10 million from the earlier Dh50 million, and also shortened the approval time to five working days.

Additionally, bond issuers are no longer required to provide a quarterly report as they may only provide an audited annual financial statement within 180 days of the year-end. The regulator has also introduced the Debt Securities Issuance Programme to allow for fast track process for seasoned issuers.