Abu Dhabi bourse renamed

The Abu Dhabi bourse has rebranded itself and changed its name, it announced today.

Formerly known as the Abu Dhabi Securities Market (ADSM), the bourse will now be known as the Abu Dhabi Securities Exchange (ADX).

The move marks the exchange's push into new products and services, such as exchange-traded funds (ETFs), which it expects to launch in the next 12 months.

Tom Healy, CEO of the ADX, said in a statement: "The exchange, and the former name, are eight years old. This rebranding is an effective way to refresh the brand in line with our ongoing evolution.

"The new logo and brand also provide a clear visual representation of our strategy to benchmark ourselves against the world-class standards of other leading exchanges."

The ADX signed an agreement with NYSE Euronext in March to take advantage of its expertise, world reach and technology platform.

In an interview in the May issue of Arabian Banking & Finance, Healy said: "We're never going to dominate the market worldwide, but we want to be seen as the centre of the Gulf. To get there, we have to become more international than we are at the moment."

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