As part of its continuous efforts to enhance its global presence and build a broad network of international financial institutions and entities, Abu Dhabi Securities Exchange (ADX), the region's leading financial market, participated in Milken Institute’s Global Conference in Los Angeles from April 28 to May 01. The delegation was headed by H.E. Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, and as part of its U.S. tour, also visited NASDAQ and the New York Stock Exchange (NYSE) on May 02 and 03, respectively.
Several CEOs, academics, researchers, media and opinion leaders from around the world participated in the 2019 edition of the Milken Institute’s Global Conference. The conference deliberated the rapid global changes, as well as way to contribute towards creating more prosperous communities and address poverty and other challenges facing humanity.
H.E. Khalifa Salem Al Mansouri stressed the significance of this annual conference and its importance in providing a common platform for various stakeholders to drive the prosperity and betterment of humanity. H.E. said: “Given ADX’s leading position in the region, we truly believe in the need for continuous and effective communication between senior officials, analysts and thought leaders across the globe to discuss the various social, economic, educational and development issues that affect the future of our world.”
Founded in 1991 by Michael Milken as a non-profit, non-partisan think tank, the Milken Institute organises an annual global conference to tackle issues that support development and prosperity in different societies. In 2018, the Institute launched an annual Middle East and North Africa (MENA) Summit, with Abu Dhabi hosting the first and second sessions. World leaders and more than 1,000 participants from 40 countries took part in the summit.
During the delegation’s visit to NASDAQ and NYSE, H.E. Khalifa Al Mansouri highlighted ADX’s efforts to support the Abu Dhabi plan and bolster the nation’s economy by providing a secure and stable investment environment. The delegation was also briefed on global markets’ latest practices in disclosure, transparency, FinTech, as well as the technologies used in the filing, recording, trading and settlement of securities.
H.E. also met with Adena Friedman, President of Nasdaq, and a group of NYSE officials. They discussed the policies and trends in the securities industry on a global level, as well as ways for further cooperation between the Exchange, NASDAQ and NYSE.
H.E. Khalifa Salem Al Mansouri added: “ADX is actively looking to work with the world's largest financial markets in order to showcase its leading position as an attractive trading environment for foreign and institutional investments, thus contributing towards achieving the development vision of the Emirate. We are also constantly evolving to embrace global best practices that enable us to enhance the Exchange’s operations to meet and exceed the expectations of listed companies and investors.”
The number of U.S. investors in ADX reached 4046 investors, including 2081 institutional investors by the end of the first quarter of 2019. The total value of their transactions (selling + buying) during the first quarter of 2019 reached AED 3.2 billion compared to AED 1.5 billion during the same period of 2019, an increase of 106%.
