FEAS Yearbook FEAS Yearbook 2010 | Page 46

ANNUAL REPORT JUNE 2010 FEDERATION OF EURO-ASIAN STOCK EXCHANGES ABU DHABI SECURITIES EXCHANGE The market capitalization of companies listed at the ADX at the end of 2009 was US$ 80.2 billion AED 295 billion with an increase of 17%. Rashed AL Baloushi Deputy Chief Executive At the end of 2009 the Abu Dhabi Securities Exchange (ADX) had 67 companies listed, whereas, the number of listed companies at the end of 2008 was 65. The index increased from 2390.01 in 2008 to 2743.61in 2009. 280 million) compared to US$ 256 million (AED 940 million) in 2008. In 2009 there were 250 trading days compared to 247 days in the previous year. The number of shares traded in 2009 decreased to 37.6 billion shares compared to 49.9 billion shares traded over the previous year 2008, a decrease of 25%. Moreover, the daily average of traded shares also decreased to 150 million shares compared with 202 million shares in 2008. The value of trading decreased from US$ 63.1 billion (AED 231.9 billion) in 2008 compared to US$ 19 billion (AED 69.9 billion) in 2009, an decrease of 70%. Moreover, the daily average value of trading in 2009 decreased to US$ 76.2 million (AED On March 25, 2010, ADX launched the first Exchange Traded Funds (ETFs) trading platform in the GCC region. The exchange was ranked as the second best government entity in Abu Dhabi in terms of e-services and solutions. HISTORY AND DEVELOPMENT ADX was established on November 15, 2000, as the official stock exchange of Abu Dhabi, and throughout this relatively brief history, the exchange was able to achieve remarkable growth in tandem with the robust economic performance of the emirate of Abu Dhabi during the past decade. ADX has custody agreements with major international financial institutions including HSBC, Standard Chartered Bank, Deutsche Bank and Citi. ADX serves the domestic cash equity market with 67 listed companies and a market capitalization of AED 294.57 billion (US$ 80.26 billion) as on December 31, 2009. TRADING VOLUME (US$ millions) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 PAGE 42 02 03 04 05 06 07 08 The number of executed trades declined to 744,697 trades compared to 1,126,373 trades in 2008, a decrease of -34%. The market capitalization of companies listed at the ADX at the end of 2009 was US$ 80.2 billion AED 295 billion with an increase of 17%. FUTURE OUTLOOK In 2010 ADX will: • Increase institutional participation • Attract more foreign investors • Enhance the quality of market intermediation • Strengthen the equity and debt markets • Develop some new indices including investor confidence and satisfaction • Develop internal processes and technology • Invest in the social infrastructure • Develop human resources and; • Promote the implementation of international best practices