- ADX participates in the Middle East Securities Forum
- “We aim to share our latest initiatives with the region’s financial community,” Khaled Al Suwaidi
Abu Dhabi Securities Exchange (ADX) has participated in the 2010 Middle East Securities Forum taking place in Doha, Qatar on 22-23 March, 2010, represented by Khaled Khalfan Al Suwaidi, Head of Listed Companies Department.
The two-day event was dedicated to discussing the means to improve the region’s appeal as an investor destination through addressing the alignment of the region’s capital markets to the movements of the global markets, the exaggerated risks of the GCC, developing the regulatory frameworks, as well as the current trends in the region’s financial markets.
“The region’s financial markets need to move to the next level through upgrading the standards and through more coordination and cooperation to benefit from each others experiences given the relatively short history of these exchanges,” commented Al Suwaidi who participated in a panel discussion addressing the trends in 2010.
“We are sharing with the region’s financial community the latest developments and initiatives for ADX including the application of the Extensible Business Reporting Language (XBRL), the introduction of Exchange Traded Funds (ETFs) as a new investment vehicle, as well as the latest developments related to applying the appropriate corporate governance codes,” he added.
ADX has cut a long way in the application of XBRL in tandem with an overall plan for the emirate of Abu Dhabi. “A more comprehensive corporate governance framework shall be mandatory for UAE listed companies and markets soon, and such an important development highlights our commitment to the application of best international practices and our strong support for the elements of transparency and integrity,” Al Suwaidi said. The forum included key industry speakers from the region and the world including the heads of the stock exchanges of Qatar and Bermuda, as well as senior executives from HSBC, Deutsche Bank, Citi, JP Morgan, Bank of New York Mellon and Commercial Bank of Qatar.
“What we aim is to explain the importance of coordinating the efforts at the national levels through exposing our central role within the framework of Abu Dhabi’s Economic Vision 2030 and how we were able to embed the objectives of this ambitious vision to our strategy at ADX,” Al Suwaidi revealed.