London Stock Exchange today welcomed the Abu Dhabi Securities Exchange (ADX)


London Stock Exchange today welcomed the Abu Dhabi Securities Exchange (ADX) and eight of its top listed corporates to an opening ceremony.

The blue chip delegation was visiting London to ring the London Stock Exchange opening bell after meeting leading international investors at a roadshow event organised by HSBC. The trip follows a visit to the New York Stock Exchange in March to project the attractions of the region's capital markets given the UAE's inclusion in the MSCI Emerging Markets Index. Previously it was classified as a 'frontier' market.

On the last trading day in May the MSCI indexes rebalanced and the UAE officially joined the ranks of the emerging markets for the first time. This long-awaited milestone will trigger more than $1 billion of fresh funds to flow into the region as the UAE hits the radar screens of the world’s big investors. For the first time, the region will stand shoulder-to-shoulder with such economic giants as Brazil, Russia, India and China.

"As a stock exchange we want to attract institutional investors to play a more positive role in the markets in Abu Dhabi," said Rashed Al Baloushi, Chief Executive of ADX.

"For the UAE, it’s the clearest signal yet that international investors recognise its capital markets are maturing quickly," said Georges Elhedery, HSBC’s head of capital financing and markets, MENA. "Introducing sophisticated London-based funds to Abu Dhabi's leading listed companies is the first step towards securing the participation of institutions which are long-term, fundamental investors, in the development of the region's equity markets."