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Abu Dhabi Securities Exchange unveils five-year strategic plan

Abu Dhabi Securities Exchange (ADX) on Tuesday revealed its five-year strategic plan, aimed at introducing new investment instruments, encouraging foreign investments, and adaptation of a regulatory framework.

  • By Ahmed A. Elewa, Senior Reporter
  • Published: 00:15 May 21, 2008
  • Gulf News

Abu Dhabi: Abu Dhabi Securities Exchange (ADX) on Tuesday revealed its five-year strategic plan, aimed at introducing new investment instruments, encouraging foreign investments, and adaptation of a regulatory framework.

The market is currently working with the Emirates Securities and Commodities Authority (Esca) to finalise the regulations related to listing Exchange Traded Funds (ETFs), and is also seeking to establish the debt market through introducing government bonds.

"Listing ETFs will support our efforts aiming at attracting foreign invest-ors, rendering our market more attractive," Tom Healy, ADX's chief executive, said.

Foreign investment

ADX has witnessed a surge in the value of foreign investments during the first quarter of 2008 amounting to Dh1.1 billion, compared to Dh696 million in 2007 and Dh250 million in 2006.

"We only have two convertible bonds listed on ADX, and to develop a healthy debt market we need to introduce government bonds which are used as a standard and a benchmark for issuing bonds in any developed country," Rashid Al Baloushi, the deputy chief executive, said.

"Accordingly we are now working with the concerned government entities in Abu Dhabi to introduce government bonds as a first step towards establishing the bonds market," he said.

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