Abu Dhabi Securities Exchange to Lower Trading Activity Fees
Posted on 02/06/2021
Abu Dhabi Securities Exchange (ADX) is a stock exchange in Abu Dhabi, United Arab Emirates. The exchange plans to lower trading-activity fees on all exchange transactions as part of its ADX One strategy. The exchange seeks to double the market capitalization of companies listed on the exchange in the next three years. According to a Saturday ADX statement, fees on all transactions that occur on ADX will be reduced by more than a fifth to 0.175% from 0.225%, effective February 14, 2021.
On the new move, Chairman Mohamed Ali Al Shorafa Al Hammadi, said, “Our ADX One strategy further enhances our position as one of the most competitive exchanges in the region.”
“Reducing overall transaction costs for trading on the exchange is one of many initiatives we are undertaking to achieve our strategy of attracting new liquidity sources and making listing and investing in ADX an attractive value proposition,” stated Al Hammadi.
In June 2019, ADX trading commissions were lowered. This was part of Abu Dhabi’s Ghadan 2021 plan of lowering the cost of doing business in the UAE.