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NYSE Euronext (NYX) and Abu Dhabi Securities Market (ADSM) have entered a cooperation agreement to jointly develop and explore new opportunities in trading systems and other related technology, investor and issuer services, and investment products.
As part of this alliance, NYSE Euronext will provide ADSM, by end 2008, with state-of-the-art information and market infrastructure systems and technology to host all financial instruments admitted to trading on ADSM. In addition, NYSE Euronext and ADSM will explore the development of new ventures, including the implementation of ADSM's derivatives market.
This agreement is consistent with ADSM's ambitions to become the leading global exchange in the Gulf region, on the basis of its market expertise, modeled after the diversity and international footprint of NYSE Euronext.
Duncan L. Niederauer, Chief Executive Officer of NYSE Euronext, said: "We welcome this unique opportunity to work more closely with ADSM and are committed to the success of this strategic alliance, which is consistent with NYSE Euronext's vision and strategic business objectives."
Jean-Francois Theodore, Deputy Chief Executive Officer of NYSE Euronext, added: "We are delighted that NYSE Euronext and ADSM have established a cooperative working relationship on key areas of mutual interest for the benefit of our respective customers. We look forward to actively participate in ADSM's global ambitions, on the basis of our state-of-the-art technology and strong expertise in financial products and services."
H.E. Nasser Ahmed Alsowaidi, Chairman of ADSM, commented: "This new alliance between NYSE Euronext and ADSM is very welcome, and is very much in line with our ambitions for the Abu Dhabi market."
Tom Healy, Director General of ADSM, said: "This strategic alliance, which will create new growth opportunities to our mutual benefits, represents a significant step in bringing our capital markets closer together. We see that, based on this agreement, receiving support and advice from NYSE Euronext will significantly enhance our systems operations, broaden our product offering, and assist our development of new businesses, thus supporting ADSM in becoming the premier financial market in the region."
About NYSE Euronext
NYSE Euronext (NYX) operates the world's leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions.
NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/EUR 20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/EUR 103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information about NYSE Euronext, please visit www.nyx.com.
About Abu Dhabi Securities Market
The Abu Dhabi Securities Market (ADSM) serves the domestic cash equity market and has 64 listed companies with a market capitalization of US$128 billion. In 2007, average daily trading volumes increased by more than 400% with a substantial increase in foreign net investments. ADSM is expanding its relationships through a number of MoUs signed with exchanges in the Gulf Cooperation Council (GCC)* and Asia Pacific regions.
Abu Dhabi has one of the strongest banking and investment communities in the GCC region and the Emirate of Abu Dhabi is the world's fifth largest producer of hydrocarbons. For more information about ADSM, please visit www.adsm.ae.
*GCC includes Kingdom of Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Qatar and Oman
