ADX, FTSE Russell to develop FTSE ADX 15 Index

The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop the FTSE ADX 15 Index, a benchmark blue chip measure that will support ADX’s recently launched derivatives market and the creation of ETFs and other index-tracking investment vehicles.

Also known as the FADX 15, the benchmark index will be launched on March 30 and will include the largest and most liquid 15 companies on the ADX, carefully selected using a combination of free float adjusted market capitalization and median daily trading value.

The creation of the FADX 15 is the first in a suite of co-branded indices being developed by ADX and FTSE Russell and closely follows the announcement of the new FTSE ADX sector indices that leverage the Industry Classification Benchmark (ICB), a global industry classification standard.

ADX’s partnership with FTSE Russell is the first of its kind in the region. As part of the exchange’s ambitious strategy launched last year to attract more international investors and enhance liquidity, ADX has broadened its asset class offerings, including the introduction of single stock futures in the fourth quarter of 2021.

The FADX 15 will be used as the basis for the launch of new index products on ADX during the course of this year.
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, commented, “The introduction of the FTSE ADX 15 Index is a major milestone that underscores the exchange’s commitment to provide market participants with cutting-edge investment products that align with world-class standards.

The indices developed in partnership with FTSE Russell will support our aim to create a vibrant and liquid capital market that provides sustainable growth opportunities for investors around the world.”

Arne Staal, Chief Executive Officer, FTSE Russell, said, “We welcome the launch of the new FTSE ADX 15 Index as the first co-developed index under the FTSE ADX strategic partnership.

This collaboration creates next generation benchmarks for this vibrant and growing market and brings FTSE Russell’s world-class index expertise to one of the largest exchanges in the Gulf region.”