ABU DHABI, UAE:  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 capitalization 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.

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Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management.  The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.    

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. 

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. 

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. 

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com. For more information, please contact:

ADX
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing
Email: ALKhateebA@adx.ae
Brunswick Group
Mahmoud Kassem
Associate
Email: mkassem@brunswickgroup.com
London Stock Exchange Group
Tarek Fleihan
Communications
Email: tarek.fleihan@lseg.com