Abu Dhabi Securities Market (ADSM) announced today it has signed an agreement with E-Vision, the UAE’s premier cable TV provider, to give their customers access to real-time market prices through the E-Vision network.
“As part of our initiative to implement best practices throughout the Abu Dhabi Securities Market, we are constantly looking for ways to give our investors broader access to the market” explained Rashed Al Baloushi, Acting Director General of ADSM.
“They can already access real-time market prices via SMS, voice-recognition technology, our website and the newswires. Now they can do so just by switching on their television” he added. “It is our responsibility to make sure investors make informed decisions and this is a very effective way to enhance disclosure and keep them up to date with the latest corporate news and market activity.”
Commenting on the joint initiative, Humaid Rashid Sahoo, Chief Executive of E-Vision, said: “Over the last few years, we have seen increasing interest in ADSM from our customers and we are delighted to be able to offer them the opportunity to access market information via E-Vision.”
“This is a unique service in the Middle East and we look forward to signing many more such agreements.” he added.
The service, added to E-Vision’s array of offerings, is available on the Info Channel presented by E-Vision. It offers live broadcast of information about the stock prices listed on the Abu Dhabi Securities Market, in which investors and businessmen are able to follow up on instant quotes and changes in prices. The live broadcast will take place from 9:30 am to 2:00 pm, Saturday to Thursday. In addition, a reminder of the closing results will be displayed continuously at the top of each hour and shall last until the mid-night of each broadcasting days.
Since the end of 2001 the number of listed companies on ADSM has grown fourfold; there are now nearly six times as many brokerage firms; market capitalisation is 20 times higher - ADSM is the largest international exchange in the UAE in terms of market capitalisation; there are 50 times as many shareholders registered and ADSM is a model emiratisation employer with UAE nationals making up about 74% of the team head count.
E-Vision, which was established in April 2000 as the UAE’s sole cable provider, is a subsidiary of the Emirates Telecommunication’s corporation. With an initial coverage of 20,000 homes, E-Vision’s services currently reach more than 300,000 homes across Abu Dhabi, Dubai, Sharjah, Ajman and Al Ain.
