Mubasher: Abu Dhabi Securities Exchange (ADX) joined forces with Mashreq Bank to provide its clients with instant access to trading on the exchange, according to a press release.
ADX inked a memorandum of understanding (MoU) with Mashreq Bank as well as an access and process agreement with Mashreq Securities. The deal facilitates the digital onboarding process for Mashreq customers, which will enable them to have a national investor number (NIN).
The partnership aligns with ADX’s objectives to boost digital technology and expand access to investment opportunities offered by the exchange.
The trading value of ADX jumped by nearly 21.90% year-on-year (YoY) to AED 450 billion in 2022, backed by a stream of listings and increasing interest from regional and international investors.
Abdulla Salem Al Nuaimi, Chief Operations Officer of ADX, said: “We have witnessed a robust pipeline of [initial public offerings] 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 and Head of Mashreq Gold, noted: “Through this strategic collaboration between Mashreq Securities and ADX, customers can generate a 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 IPOs with ADX through the Mashreq mobile banking app,” Al Deesi continued.
