June 14, 2024

ADX, Mashreq to offer instant trading access to clients

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ADX and Mashreq Signing Ceremony.
ADX and Mashreq Signing Ceremony.

Abu Dhabi Securities Exchange (ADX), one of the world’s fastest growing and best-performing exchanges, has partnered with Mashreq, a leading financial institution in MENA, 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 AED 450 billion in 2022, an increase of almost 21.9 percent 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 Exchange

Mr. Abdulla Salem ALNuaimi, Chief Operations Officer of Abu Dhabi Securities Exchange, said: “ADX is delighted to partner with Mashreq to provide its customers with quick and easy access to the growing number of securities listed on the Exchange. Working with partners to facilitate access to the unique growth opportunities offered on ADX supports our mission to drive opportunity and growth through an innovative, dynamic and transparent marketplace.”

ALNuaimi added: “We have witnessed a robust pipeline of IPOs and listings last year and will continue to introduce more products and services that will further augment our offer to a growing number of investors locally and internationally.”

Aladdin Al Deesi, Executive Vice President & Head of Mashreq Gold

Aladdin Al Deesi, Executive Vice President & Head of Mashreq Gold, said: “We are thrilled to partner with ADX for supporting the growth and accessibility to UAE’s capital markets through our mobile banking proposition that will offer a seamless digital experience to all our customers. Through this strategic collaboration between Mashreq Securities and ADX, customers can generate an investor number (NIN), and open a brokerage account with Mashreq Securities in real time without any paperwork. The digital journey will also allow the clients to subscribe digitally to any upcoming initial public offerings (IPOs) with ADX through the Mashreq mobile banking app. We are committed to supporting the vision of the UAE to build a strong infrastructure for its capital markets and investors.”

Source

Also read:

Mashreq elects Aziz Ata as Global Head of FI and NBFI

Mashreq collaborates with Bank Al Habib Limited for safe money transfer

Mashreq Bank partners with Galaxy Racer in e-sports

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