Sharjah 24 – WAM: The Abu Dhabi Securities Exchange (ADX) has reduced its trading commissions by 50% and will extend its trading hours by one hour, with the market opening at 10am and closing at 3pm.
The reduction in trading fees, to 0.025% from 0.05%, which will take effect starting 1st of September, is the exchange’s second commission cut in 2021, and the third in three years. Meanwhile, the decision to extend trading beyond the previous 2pm close will be implemented from 3rd October and should bring ADX in line with the operating hours of many exchanges globally. The exchange’s latest initiatives are part of the ADX One strategy announced at the beginning of the year to bolster market activity and to deepen market liquidity.
Mohamed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Securities Exchange said: "We are very pleased to have been able to answer the call by our investors, issuers, and intermediaries for lower trading commissions and longer trading hours, reflecting increased demand to trade Abu Dhabi’s publicly listed companies. The ADX offers unique, high-growth investment opportunities within a strongly-regulated, tax-free and stable business environment and the extension of our opening will serve to attract increased international investment."
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