Abu Dhabi Securities Exchange (ADX) partners with Mashreq

Abu Dhabi Securities Exchange (ADX) partners with Mashreq

Digital onboarding process to provide instant trading access to clients

Officials at the signing ceremony. - Supplied photo

Published: Tue 11 Apr 2023, 2:30 PM

Abu Dhabi Securities Exchange (ADX) has partnered with Mashreq to provide its customers with instant access to trading on the exchange.

The partnership was formalised in a memorandum of understanding (MoU) with Mashreq and an access and process agreement with Mashreq Securities. The agreement simplifies and streamlines the digital onboarding process for Mashreq customers, allowing them to instantly obtain a National Investor Number (NIN).

ADX and Mashreq will work together to introduce a simple process for individuals to obtain a NIN and set up a trading account. Using a state-of-the-art secure digital platform, the new process will eliminate the requirement to print, sign and e-mail documents.

The agreement with Mashreq supports ADX’s strategy of harnessing the power of digital technology to increase access to investment opportunities offered by the Exchange, hence widening its investor base and enhancing market liquidity. Trading value on the ADX reached Dh450 billion in 2022, an increase of almost 21.9 per cent from 2021, driven by a stream of listings and growing interest from regional and international investors.

Abdulla Salem AlNuaimi, chief operations officer of Abu Dhabi Securities