ADX appoints BNY Mellon for global custody offering

ADX appoints BNY Mellon for global custody offering

ABU DHABI:

Abu Dhabi Securities Exchange (ADX), one of the world’s fastest growing exchanges, appoints BNY Mellon, the world's largest custodian bank, to support dual listings on ADX by international companies. Through this collaboration, BNY Mellon will provide a bridge for ADX to connect to international exchange depositories (ICSDs), leveraging BNY Mellon’s global presence.

The initiative is part of ADX’s strategy to work with reputable international capital market entities to build innovative solutions that help enhance market structure and capabilities. The arrangement with BNY Mellon will serve international issuers to dual list their securities, initially from the US, to be then expanded to other global jurisdictions. It will additionally provide ADX investors new investment opportunities from global markets.

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “We are excited to work with BNY Mellon to enhance our links with global exchange depositories and enable dual listings on our rapidly growing exchange. Appointing BNY Mellon, the world’s largest custodian, supports our strategy of strengthening and innovating our infrastructure and offering investors a wider range of unique growth opportunities. We will continue to explore further associations that reinforce our position as a leading exchange in the region.”

Hani Kablawi, Head of International at BNY Mellon,