Abu Dhabi Securities Exchange discusses cooperation with Korean Counterpart

Mr. Rashed Al Baloushi, CEO of ADX, welcomed the visiting delegation and described their presence as basis for an ongoing fruitful cooperation with the KRX, one that will raise the level of efficiency of ADX services and contribute in supporting the economic growth of Abu Dhabi.

During the two day meetings, ADX and KRX discussed a joint project to develop Exchange Traded Funds (ETF) in the Abu Dhabi stock exchange, and both parties also proposed expanded cooperation on matters relating to Central Counterparty Clearing (CCP), dual listing companies in both exchanges as well as jointly developing and supporting other capital markets.

ADX and KRX discussed the various possibilities of reinforcing means of economic and investment cooperation between the two stock markets. ADX shared with KRX the successful introduction of its ETF in the exchange, the first in the region, which was awarded the Best Exchange Traded Fund of the Year Award at MENA Fund Manager Awards in 2013.

ADX CEO stated that:" "Strengthening our relationships with other stock markets is a key priority for our market and such visits provide an opportunity for us to exchange information on our mutual experience."