Abu Dhabi Securities Market (ADSM) announced it will open a new trading hall in Marina Mall, Abu Dhabi on 20 November, taking the total number of offices in the UAE up to seven.
ADSM currently operates six offices: Al Ghaith Tower, Hamdan Street – which is the Market’s headquarters and employs around 80 per cent of all ADSM staff, Sharjah, Ras al Khaimah, Fujairah, Zayed City and Al Ain.
The Marina Mall office will be located in the building’s new extension and will initially employ 4 members of staff. Rashed Al Baloushi, Acting Director General of ADSM, explained how important it was for ADSM to expand to meet increased demand and give investors as much access to the market as possible.
“Through the success of our international best practices programme, we are becoming the international exchange of choice in the region”, explained Mr Al Baloushi. “We have experienced unprecedented growth in the last six years and now have nearly 800,000 investors registered here and 61 listed securities. .
“One of ADSM’s strategic priorities is to continue to build-up the UAE capital markets. To do this successfully and maintain our own growth, we must invest in our own infrastructure and facilitate investors’ access to ADSM and DFM.”
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; 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.