Abu Dhabi Securities Exchange’s FADX 15 gains 16.9% at end of Q3

The Abu Dhabi Securities Exchange (ADX) continued its ambitious growth trajectory showing a 16.9 per cent gain on its benchmark index FTSE ADX 15 (FADX 15) from the start of the year until the end of the third quarter.

The gain was supported by a rise in institutional and individual investors on the exchange, a trading uptick on ADX’s fast-growing exchange-traded funds (ETF) market, new listings, and the introduction of an index created in partnership with FTSE Russell, as reported by state news agency, WAM.

Read: ADX, FTSE Russell benchmark blue chip index to launch on March 30

Year to end of Q3 traded values (buy + sell) on the exchange reached Dhs648.9bn compared to Dhs495bn during the same period last year, an increase of 31 per cent. ADX witnessed net foreign investment reaching Dhs19.8bn compared to Dhs7.1bn during the same period last year which is a 176 per cent increase, and a 28.7 per cent increase in the value of shares traded by institutional investors to Dhs541.5bn in the same period.

The market capitalisation of stocks listed on ADX increased 59.7 per cent to Dhs2.2tn at end of Q3 from Dhs1.38tn during the same period in 2021, WAM reported.

Year to end of Q3 trading values for ETFs on ADX reached Dhs886.9bn, an increase of 744 per cent from Dhs105bn compared to the same period in 2021, thus making ADX’s ETF market the most liquid in the region. A Turkey-focused ETF was listed on the exchange in the third quarter. The Chimera S&P Turkey Sharia ETF began trading on ADX on August 1, bringing the total number of ETFs on the exchange to seven, the highest number of ETFs on a MENA exchange.

ADX partnered with FTSE Russell this year to create a suite of indices, including the introduction of the FTSE ADX Growth Market Index (FADGMI) in the third quarter. The measure provides investors with the ability to mimic the performance of the growth market, a trading platform for fast-growing companies starting their capital market journey.

Traded values on the growth market in the first nine months of the year increased 147.7 per cent year on year to Dhs20.1bn while the market capitalisation increased 84.8 per cent to reach Dhs76.6bn as of the end of Q3 2022.

Also read: UAE’s ADX launches FADX 15 Futures, the exchange’s first index derivatives