Abu Dhabi Securities Exchange (ADX) announced on Saturday it is reducing its trading commissions by 50 percent and will extend its trading hours by one hour.
The reduction in trading fees, to 0.025 percent from 0.05 percent, which will take effect starting on September 1, is the exchange’s second commission cut in 2021, and the third in three years.
The decision to extend trading beyond the previous 2pm close to 3pm will be implemented from October 3 and should bring ADX in line with the operating hours of many exchanges globally.
The latest initiatives are part of the ADX One strategy announced at the beginning of the year to bolster market activity and to deepen market liquidity, a statement said.
Mohamed Ali Al Shorafa Al Hammadi (pictured below), chairman of Abu Dhabi Securities Exchange said: “We are very pleased to have been able to answer the call by our investors, issuers, and intermediaries for lower trading commissions and longer trading hours, reflecting increased demand to trade Abu Dhabi’s publicly listed companies.
“The ADX offers unique, high-growth investment opportunities within a strongly-regulated, tax-free and stable business environment and the extension of our opening will serve to attract increased international investment.”
Saeed Hamad Al Dhaheri, CEO of Abu Dhabi Securities Exchange, added: “The significant reduction in trading commissions and the extension of our operating hours align ADX with international practices and helps us to realise our ADX One strategy’s main aim of enhancing liquidity and increasing our market capitalization.
“The fee cuts and extension complement our tireless efforts over the past year to bring the most sought out products and services to issuers and investors. We will continue to nurture liquidity on the exchange as we roll out the ambitious ADX One strategy announced at the beginning of the year.”
The Abu Dhabi Securities Exchange General Index (ADI) has recently reached 7700 points for the first time, supported by a series of listings and increased participation by international investors.
The index has gained 51 percent year to date, making it one of the best performing equity indexes in the world.
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