NYSE and ADX Sign MoU to Collaborate on Dual Listings

The New York Stock Exchange (NYSE), part of Intercontinental Exchange, Inc. (ICE), announced Thursday (November 16) that it has signed a memorandum of understanding (MoU) with the Abu Dhabi Securities Exchange (ADX), one of the fastest growing markets worldwide, to collaborate on various key business activities, including the dual listing of companies on both exchanges.

Through the collaboration, the two exchanges will jointly explore possibilities for the development of ETFs as well as data and index products. Additionally, they will work together on sustainability-related initiatives.

Abdulla Salem Alnuaimi, CEO of ADX, commented: "The collaboration between ADX and NYSE fosters greater connectivity between issuers and investors by facilitating the ease of dual listings, providing companies with greater visibility and access to a larger pool of investors while offering them the opportunity to participate in the growth stories of companies from diverse geographic regions."

He added: "With this collaboration, we enhance the introduction of new financial products and services that cater to the needs of local and global investors, including innovative investment vehicles, indices, and exchange-traded funds, as well as work together on projects related to sustainability. This collaboration represents a key moment in ADX's journey to reinforce Abu Dhabi's position as a thriving global financial center, enabling dual listings, fostering connectivity, and opening the door to a new era of growth and unlimited potential."

John Tuttle, Vice Chair of the NYSE, said: "The New York Stock Exchange is pleased to sign this memorandum of understanding with the Abu Dhabi Securities Exchange, bringing together two dynamic, global organizations to drive innovation and growth in our markets. The agreement represents an exciting new initiative for the NYSE, building upon ICE's investments in the region and allowing us to explore dual listings and other new products with ADX to benefit our listed companies and investors."

The MOU, as stated in the announcement, aims to facilitate cross-border listings on both the NYSE and ADX, granting investors from each region access to these securities and fostering economic growth and development.

At the end of last year, NYSE also signed a MoU with another exchange, the Tel Aviv Stock Exchange (TASE)​, about collaboration including the dual listing of companies.