The Abu Dhabi Securities Exchange (ADX) and the New York Stock Exchange (NYSE) recently signed a memorandum of understanding (MoU) to work together on various key business activities. One major focus of the partnership is to allow companies to list on both exchanges.

According to Abdulla Salem Alnuaimi, the CEO of the ADX, the MoU demonstrates the international financial markets’ confidence in the UAE’s capital markets, as well as the country’s stable economy and diverse investor ecosystem. The agreement also aims to strengthen connectivity with global financial markets.

Alnuaimi highlighted that the collaboration with the NYSE allows for a number of joint business activities, including the dual listing of companies, the development of ETFs, data and index products, and support for sustainability initiatives.

John Tuttle, vice-chair of the NYSE, underscored the MoU’s significance in strengthening the productive partnership with ADX. Furthermore, Tuttle emphasized the growth and dynamism happening in Abu Dhabi and how this partnership aligns with providing more investment opportunities for both US investors and companies listed in Abu Dhabi.

Notably, ADX has been experiencing significant activity, especially in attracting international and institutional investors, as evidenced by new listings and product launches. Recognizing this growth, the partnership with the NYSE can be a catalyst for even further global expansion for both exchanges.

The collaboration also aligns with the agreement between ADX and the ICE Global Network to provide global institutional investors with direct access to ADX market data and order entry. This reflects a broader commitment to the region, including cooperation with the Abu Dhabi National Oil Company to launch ICE Futures Abu Dhabi.

The partnership is seen as an essential step in reinforcing Abu Dhabi’s position as a thriving global financial center, unlocking new opportunities for growth and connectivity.

Tuttle, along with Margaret Niche, head of ICE Global Network, marked the signing of the MoU and the addition of ADX to the ICE Global Network by ringing the ADX opening bell, signifying the beginning of exciting new collaborations between the two exchanges.