ADX CEO Wins Excellence Award

Press release

Published April 21st, 2014 - 07:51 GMT

Al Bawaba

The Chief Executive Officer of Abu Dhabi Securities Exchange (ADX), Rashed Al Baloushi, received the “Government CEO Excellence” Award at the 11^th Leading CEO Awards ceremony held on 17^th April at the Burj Al Arab Hotel in Dubai. The award ceremony, organized by the Middle East Excellence Awards Institute, recognizes some of the region’s most outstanding leaders of government and business organizations.

During Mr. Al Baloushi’s tenure as Chief Executive, the Abu Dhabi Securities Exchange has adopted a significant number of global best practice rules and regulations. ADX was also inducted as a member of the World Federation of Exchanges (WFE) in 2012, and on 17^th April successfully launched the world standard trading platform, X-Stream, developed by NASDAQ OMX, and the first exchange in the region to run the in-memory vetting model of X-Stream trading.

Commenting on the award, Mr. Al Baloushi said:"I am honored to receive this award which recognizes the achievements of ADX particularly over the past year, at the same time delivering real and sustainable value for our stakeholders.”

“This honor is as much to our loyal team of management and staff as it is to me. It is an accolade for the ADX family, and I am delighted accept it on their behalf as we look forward to continued success in the future.” Al Baloushi added.

Background Information

Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) was established on 15th of November 2000 by Local Law No. (3) of 2000, the provisions of which vests the Market with a legal entity of autonomous status, independent finance and management, and gives ADX the necessary supervisory and executive powers to exercise its functions.

Moreover, ADX has the authority to establish centers and branches outside the Emirate of Abu Dhabi, and so far it has done so in Al Ain, Zayed City, Fujairah, Ras Al Khaimah and Sharjah.

ADX's board of directors is comprised of seven members nominated by Amiri Decree. The members of the board hold office for a term of three years. The first board of directors was constituted by Amiri Decree No. (8) of 2000.