ABU DHABI - The Abu Dhabi Securities Exchange (ADX) and FTSE Russell, under their index partnership, have co-developed a new benchmark, the FTSE ADX Growth Market Index (FADGMI) that will track the performance of the ADX’s recently rebranded Growth Market segment.

FADGMI, the new index that went live today, includes the eligible constituents of the Growth Market, will provide investors with the ability to mimic the Growth Market performance that consists of a wide range of emerging and fast-growing companies starting their capital market journey.

The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index (FADX15), a blue-chip benchmark of the 15 largest and the most liquid companies on ADX. More co-branded indices are expected to be launched under the partnership in the coming months.

The ADX Growth Market, the new brand of the Second Market, is an emerging equity segment on the exchange that connects investors and privately owned businesses in sectors as diverse as sports, transportation, wholesale trading, and healthcare.

The first of its kind in the region, ADX's partnership with FTSE Russell is part of the exchange's ambitious strategy to provide its investors with world-class benchmark indices and to broaden its product offerings further. This includes the introduction of the derivatives market with single stock futures in the fourth quarter of 2021 and FADX15 index futures in June this year.

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange, commented, "The introduction of the FTSE ADX Growth Market Index (FADGMI) demonstrates our commitment to providing market participants with new benchmarks that meet world-class standards particularly with the Exchange’s rapidly growing international investor base. The new index will enable investors to track the exciting opportunities in the Growth Market segment and make insightful investment decisions to better manage their investment portfolios. Our collaboration with FTSE Russell is an important component in increasing liquidity and supporting the exchange's market capitalisation growth."

Arne Staal, Chief Executive Officer, FTSE Russell, said, "The launch of the FADGMI index is another important milestone in our strategic partnership with ADX that harnesses FTSE Russell’s world-class expertise to create best-in-class equity benchmarks for one of the region’s fastest growing exchanges."