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ADX meets Morgan Stanely delegation

The Abu Dhabi Securities Exchange, ADX, recently met with an executive delegation from Morgan Stanley to discuss how to develop business relations between both entities.

Khalifa Salem Al Mansouri, Acting Chief Executive of the ADX, said, “This was a valuable introduction for the ADX. Developing business relations with such a highly experienced American multinational investment bank and financial services company such as Morgan Stanley will serve to improve potential cooperation to further the long-term vision of the ADX.”

“Our meeting with Morgan Stanley will support the strategy of the ADX of bolstering its leading position in the region and further expanding its cooperation with global financial markets, as well as increasing the base of partners and investors,” he added.

The ADX officials conducted a tour for the Morgan Stanley delegation, which included Sammy Kayello, Chairman and CEO MENA; Gokhan Unal, Managing Director, Investment Management; and Waleed Al Rezooqi, Vice President, Investment Management. This was followed by a high-level discussion exploring opportunities between both entities.

The Morgan Stanley meeting follows the ADX’s recent commitment to carry out a strategy to diversify financial instruments for investors in the market, as part of the “Ghadan 21” plan. This approach aims at building a solid platform for investors by removing barriers and costs of doing business.

Foreign net investment in the ADX increased by 373 percent during H1 2019 in comparison to the same period in 2018, with net foreign investment climbing from AED489 million during H1 2018 to AED2.3 billion during H1 2019.

Net institutional investment during the H1 2019 also recorded an increase of 110 percent compared to the same period in 2018 with AED947 million during the H1 2018 to AED1.9 billion. By the end of H1 2019, the number of investors on the exchange reached around 969,000, of which 8,732 are institutional investors, where 6,345 of those institutions are foreign.

Source: WAM

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