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Abu Dhabi Securities Exchange (ADX)
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Abu Dhabi Securities Exchange name change and rebranding 06 May 2008
On 06 May 2008, the ADSM announced that it would be rebranded as the Abu Dhabi Securities Exchange (ADX), not ADSE or ASE. Name has been left as the Abu Dhabi Securities Market below for the time being, as it will probably take a while for the change of name to filter through the public consciousness. See the ADSM ADX change topic for more.
Abu Dhabi Securities Market (ADSM) background and history
The Abu Dhabi stock market is known as the Abu Dhabi Securities Exchange (ADX), previously the Abu Dhabi Securities Market (ADSM), and first started operating on 15 November 2000, a few months after the Dubai Financial Market (DFM) was established. The ADSM (and DFM) provide a marketplace for shares in companies based in the UAE, however there are several secondary listings for companies based elsewhere in the Middle East, and this number is increasing as the ADSM signs agreements with more markets in other countries.
In addition to the ADSM and the DFM, there is also the Dubai International Financial Exchange (DIFX) which was focused more on international company listings rather than Abu Dhabi and UAE companies, although that is changing with the listing of DP World shares in November 2007.
The regulatory authority for the Abu Dhabi Securities Market is the Emirates Securities and Commodities Authority or ESCA (sometimes just SCA). ESCA are also the the regulators for the DFM, but not the DIFX, which is regulated by the Dubai Financial Services Authority (DFSA).
ADSM locations and contact details
The main office and trading location of the ADSM is in Hamdan St, Abu Dhabi, but there are also branches of the ADSM in other emirates.
- Postal address is PO Box 54500, Abu Dhabi, United Arab Emirates (UAE).
- Website at www.adsm.ae, email info@adsm.co.ae (but don't assume there will be a response). Website was revamped in October 2007 (although sometimes reverts back to the old format - presumably while bugs are being ironed out).
- See also the Abu Dhabi Securities Market forum for discussion and news.
As of November 2007, ADSM locations are
- Abu Dhabi - Al Gaith Tower, Hamdan St, tel +971-2-6128887
- Abu Dhabi - Marina Mall, tel +971-2-6912222
- Abu Dhabi - Zayed City, tel +971-2-8944844
- Al Ain - tel +971-3-7044000
- Fujairah / Fujeirah - +971-9-2055155
- Ras Al Khaimah - opposite Manar Mall, - tel +971-7-2042400
ADSM trading hours
As with the DFM, trading hours are 10:00-13:00 from Sunday to Thursday. Pre-opening session from 09:30-10:00, when you can place buy and sell orders but they will not be executed until 10:00.
Abu Dhabi Securities Market trading, listed companies and brokers
As of November 2007, the Abu Dhabi Securities market had 59 companies listed in 10 different sectors: Banks & Financial Services, Construction, Consumer, Energy, General, Healthcare, Industrial, Insurance, Real Estate, Telecom. Those same companies are condensed into 4 sectors under ESCA categorisation: Banks, Insurance, Services, Industrial.
Slightly more than half of the listed companies on the ADSM are open to foreign ownership of their shares, although a few are restricted to GCC or Arab nationals only. See the UAE companies list for details of foreign ownership allowances.
Daily trading activity is usually measured in the 100s of millions of dirhams by traded value, somewhat less than the activity seen on the DFM, although when there's a surge of interest, daily traded value will increase to AED 1-2 billion.
Etisalat is by far the largest company listed on the ADSM in terms of market capitalization, about 3 times the size of the next highest - National Bank of Abu Dhabi (NBAD). Neither stock trades significantly high volumes with NBAD in particular sometimes seeing very little trading activity.
A list of the more actively traded stocks on the ADSM is below, meaning stocks that trade on a daily basis, and usually more than a single figure number of trades.
*ADIB, ARKAN, ETISALAT, METHAQ, TAQA share ownership is restricted to UAE nationals, NBS is restricted to GCC nationals. All others in this list can be traded by any nationality.
| Information | Message Board | Notes |
|---|---|---|
| AABAR | Aabar Petroleum | |
| ADCB | Abu Dhabi Commercial Bank | |
| ADIB* | Abu Dhabi Islamic Bank | |
| AGTHIA | Emirates Foodstuff | |
| ALDAR | Aldar Properties | |
| ARKAN* | Arkan Building Materials | |
| BILDCO | Abu Dhabi Building Materials | |
| BOS | Bank of Sharjah | Different from NBS - Sharjah Islamic Bank |
| DANA | Dana Gas | |
| ETISALAT* | Emirates Telecommunications | |
| FGB | First Gulf Bank | |
| FOODCO | Foodco Holding | |
| GCEM | Gulf Cement | |
| JULPHAR | Gulf Pharmaceuticals | |
| METHAQ* | Methaq Insurance | Listed on the ADX 11 May 2008 |
| NBAD | National Bank of Abu Dhabi | |
| OILC | Oasis International Leasing | |
| RAKCC | Ras Al Khaimah Cement | |
| RAKPROP | Ras Al Khaimah Properties | |
| RAKWCT | RAK White Cement | |
| NBS* | Sharjah Islamic Bank | Different from BOS, often abbreviated to SIB |
| SOROUH | Sorouh Real Estate | |
| SUDATEL | Sudan Telecom | |
| TAQA* | Abu Dhabi National Energy | |
| UNB | Union National Bank |
The other Abu Dhabi stocks trade irregularly with some, especially many of the insurance companies, not trading for days or even weeks at a time.
Buying and Selling shares on the Abu Dhabi Securities Market
A summary of the steps to follow to trade securities or equities on the ADSM is
- Obtain an investor card for the Abu Dhabi Securities Market (it's different from the one you might already have for the DFM).
- Find a broker and open an account for trading on the ADSM - many brokers will trade on both the ADSM and DFM but check first.
- Deposit funds with your broker.
- Buy shares in ADSM companies via your broker either in person, by phone, fax, or online.
- Wait for a few minutes, days, weeks, months, or years and then sell them, hopefully at a profit.
See these pages and sites for more information about the Abu Dhabi Securities Market
- How to invest on the Abu Dhabi stock market
- ADSM forms - needed for registration
- Fair Values - for listed companies, estimates only.
- Companies on DFM and ADSM - shows foreign ownership allowances
- FAQs for UAE stock markets
- ADSM and DFM forum - latest posts list
- Daily ADSM stock market reports - archive, or sign up for free daily email reports here.
- UAE broker list, and UAE brokers - forum discussion topics.
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This page last updated 27-May-2008.
E & OE.