FTSE Russell and Abu Dhabi Securities Exchange (ADX) announced today the launch of the FTSE ADX 15 Index (FADX 15) representing the top publicly listed companies on ADX.
The new FTSE ADX 15 Index, a sub-index of the FTSE ADX General Index, is calculated by a combination of free float adjusted market capitalisation and median daily trading value of the top 15 traded companies on ADX.
The index adopts FTSE Russell’s world-class index governance standards and construction principles including a transparent and rules-based construction process, stock free float weighted standard, liquidity screening, and the compliance of constituents with the Industry Classification Benchmark (ICB), the global benchmark for industry sector analysis.
Mr. Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange commented: “The introduction of the FTSE ADX 15 index is a major milestone that underscores the exchange’s commitment to provide market participants with cutting-edge investment products. The rules-based indexes which have been developed in partnership with FTSE Russell will support our aim to create a vibrant and liquid capital market that harnesses global best-practices and provides sustainable growth opportunities for investors around the world.”
Arne Staal, Chief Executive Officer, FTSE Russell, said: “We welcome the launch of the new FTSE ADX 15 Index as the first co-developed index under the FTSE ADX strategic partnership. This collaboration creates next generation benchmarks for this vibrant and growing market and brings FTSE Russell's world-class index expertise to one of the largest exchanges in the Gulf region.”
The FTSE ADX 15 Index has been designed to support the creation of new investment products for domestic and international investors and issuers including derivatives, Exchange Traded Funds (ETFs), index funds and structured products. The index is reviewed semi-annually in March and September using the constituents of the FTSE ADX General Index that are listed on the Main Market of the Abu Dhabi Stock Exchange. The FTSE ADX Index Series constituents are classified into Industries, Supersectors, Sectors and Subsectors, as defined by the ICB.
