ADX appoints BNY Mellon for global custody offering

Abu Dhabi: Abu Dhabi Securities Exchange (ADX) has appointed BNY Mellon, the world’s largest custodian bank, to support dual listings on ADX by international companies, it said on Tuesday.

Through this collaboration, BNY Mellon will provide a bridge for ADX to connect to international exchange depositories (ICSDs).

The arrangement with BNY Mellon will help international issuers dual list their securities, initially from the US, to be then expanded to other global jurisdictions. It will additionally provide ADX investors new investment opportunities from global markets.

Abdulla Salem Alnuaimi, CEO of ADX, said: “We are excited to work with BNY Mellon to enhance our links with global exchange depositories and enable dual listings on our rapidly growing exchange. Appointing BNY Mellon, the world’s largest custodian, supports our strategy of strengthening and innovating our infrastructure and offering investors a wider range of unique growth opportunities. We will continue to explore further associations that reinforce our position as a leading exchange in the region.”

Hani Kablawi, Head of International at BNY Mellon, said: “With our decades-long presence in the region, we are delighted to be working with leading financial marketplace, ADX, to enable wider investor access to global financial instruments. We are focused on alleviating market complexity and connecting the financial ecosystem through innovative products and services that meet the needs of clients globally, and our appointment by ADX is a prime example of this.”