Abu Dhabi Securities Exchange

What Abu Dhabi Securities Exchange does

Abu Dhabi Securities Exchange (ADX), established in 2000 and converted to a Public Joint Stock Company in 2020, is the largest stock exchange in the UAE and the second largest in the GCC. It operates a regulated marketplace for trading equities, derivatives (single stock futures and FADX 15 index futures), exchange-traded funds, fixed income instruments (bonds and sukuk), and FTSE ADX co-branded indices, structured across Main Market and Growth Market segments. The exchange's technology infrastructure supports a T+2 rolling settlement cycle, a Theoretical Opening Price/Volume (TOP/TOV) auction mechanism, XBRL-based financial reporting, and the Tabadul digital cross-border trading platform connecting six regional exchanges across the Middle East and Central Asia. Vertically integrated post-trade services are delivered through two wholly owned subsidiaries: AD Clear (central counterparty clearing for derivatives, launched October 2024) and AD CSD (securities depository).

ADX generates revenue across multiple streams: listing fees for IPOs and ongoing securities listings, transaction-based trading commissions on equities and derivatives, market data subscriptions for real-time and historical feeds, membership fees from trading members and custodians, issuer services (dividend distribution, AGM management, XBRL filing), and post-trade clearing and depository fees. The exchange serves a customer base of over 1.1 million retail and institutional investors, over 100 listed issuers, and a network of licensed brokers, custodians, and market makers, with 43% foreign participation in trading volume. Distribution occurs through digital channels (website, iOS/Android app, eIPO portal), three physical branches (Abu Dhabi headquarters, Al Ain, Sharjah), licensed trading members, international Remote Trading Members (e.g., Morgan Stanley), and the Tabadul cross-border network. As part of ADQ, Abu Dhabi's sovereign wealth fund, ADX benefits from government strategic backing, holds a 1.4% weight in the MSCI Emerging Markets Index, and is tracked by FTSE Russell, S&P, and Dow Jones benchmarks. The exchange claims top-20 global ranking by market capitalization and top-30 by trading liquidity, with over AED 286 billion in annual traded value.

Name

Abu Dhabi Securities Exchange

Legal name

Abu Dhabi Securities Exchange Company PJSC

Website

https://adx.ae

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Abu Dhabi Securities Exchange (ADX) is the UAE's largest and the GCC's second-largest stock exchange, operating a regulated multi-asset trading platform for equities, ETFs, derivatives, and fixed income across Main and Growth Market segments. It serves 1.1 million investors and 100+ issuers, distributing through licensed brokers, a mobile app, the Tabadul cross-border network, and subsidiaries AD Clear and AD CSD.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB)

Keywords

• Securities trading exchange
• Capital markets platform
• Equity listing services
• Derivatives clearing services
• Post-trade infrastructure

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Listing Fees: Fees charged to companies for initial public offerings, listing securities, and ongoing listing maintenance on the exchange.
2. Trading Transaction Fees: Commission fees on securities trades executed on the exchange, calculated as a percentage of transaction value with different rates for equities, derivatives, and other instruments.
3. Market Data Services: Fees from data vendors and subscribers accessing real-time, delayed, and historical market data through licensed vendors.
4. Issuer Services: Fees for investor relations services, dividend distribution, AGM management, e-voting, custodian services, and XBRL reporting.
5. Membership Fees: Annual fees for trading members, clearing members, custodians, market makers, and liquidity providers.
6. Post-Trade Services: Clearing and settlement fees through AD Clear subsidiary, depository services through AD CSD, and registrar services.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Abu Dhabi Securities Exchange operates a regulated marketplace for trading securities including equities, ETFs, derivatives, fixed income (bonds and sukuk), and indices. It provides listing services for corporate issuers (IPOs, dual listings, SPACs), post-trade services through wholly owned subsidiaries AD Clear (central clearing) and AD CSD (securities depository), and a cross-border digital exchange network (Tabadul) connecting regional exchanges.

Product overview

Abu Dhabi Securities Exchange (ADX) operates as a diversified capital markets platform offering trading across multiple asset classes. The core offering comprises equities (stocks), ETFs, derivatives (single stock futures and index futures), and fixed income (bonds and sukuk), complemented by FTSE ADX co-branded indices for benchmarking. The platform is structured with Main Market (established companies) and Growth Market (innovative ventures) segments, plus SPAC listing capabilities. Supporting infrastructure includes Tabadul cross-border trading platform connecting to 6 regional exchanges, AD Clear derivatives clearing subsidiary, AD CSD depository services, XBRL e-filing for financial disclosures, and eIPO subscription portal. The exchange also offers AI-powered video disclosure tools, dividend distribution services, and virtual trading simulation for investor education.

Differentiator

Problem solved

Functional benefit

Brands

• Tabadul: Digital exchange center launched in July 2022, providing a digital exchange network for trading between member exchanges at regional and global levels based on mutual market access model.
• FTSE ADX Dividend Stars Index

Quantifiable outcome

• Dh200 billion+ combined net profits reported by listed companies in 2025 with 98% disclosure compliance
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability2 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered strategic, core and minor.

• Nigerian Exchange Group (NGX Group)strategicStrategic or Co-development Partner · 15 June 2026NGX Chairman visited ADX to discuss potential dual listing options for Dangote Refinery, cross-border listings collaboration, and knowledge sharing on the African Exchanges Linkage Project aimed at linking stock exchanges across Africa.
• BHM CapitalcoreChannel Partner/ Reseller/ Distributor · 4 June 2026BHM Capital became the first UAE financial institution to activate access to the Amman Stock Exchange through ADX's Tabadul platform, enabling its clients to trade on Jordan's stock exchange through a seamless integrated experience.
• FINTECH.TVcoreGTM or Marketing Partner · 3 June 2026Launched MENA's first international live financial news studio linking Abu Dhabi and Wall Street. FINTECH.TV, headquartered at NYSE, maintains permanent on-site presence at ADX trading floor and broadcasts live coverage of market activity and business developments.
• Amman Stock Exchange (ASE)coreTechnology or Integration · 2 June 2026Official launch of electronic link through the 'Tabadul' platform enabling cross-market trading between Abu Dhabi and Amman via brokerage firms. The link aims to strengthen regional financial market integration, enhance liquidity, and broaden investor access across both markets.
• EFG HermesstrategicGTM or Marketing Partner · 21 May 2026Jointly launched Investor Day in Abu Dhabi to engage listed companies with regional and international institutional investors amid ongoing regional geopolitical uncertainty, aiming to reinforce investor confidence and market liquidity.
• Morgan StanleycoreChannel Partner/ Reseller/ Distributor · 5 May 2026Morgan Stanley became ADX's first international investment bank Remote Trading Member, allowing Morgan Stanley's clients to access ADX directly. This development enhances ADX's global connectivity and supports increased international institutional participation.
• KraneSharesstrategicTechnology or Integration · 10 December 2025KraneShares cross-listed its ETF products KWEB and KRBN on ADX and NYSE, marking the first US ETFs to cross-list in the GCC region, expanding global investor access and connecting US, Chinese, and Middle Eastern markets.
• Kazakhstan Investment ForumminorStrategic or Co-development Partner · 10 December 2025Kazakhstan hosted AIFC Connect: Abu Dhabi 2025 forum in Abu Dhabi focusing on strengthening investment cooperation and highlighting Kazakhstan's high investment inflows from UAE.
• Iraq Stock ExchangecoreTechnology or Integration · 21 October 2025Iraqi Securities Commission approved membership requirements for trading via Tabadul platform, establishing a link between Iraq Stock Exchange and ADX. The decision enables Iraqi and foreign brokerage firms to trade across the two markets.
• FTSE RussellcoreTechnology or IntegrationPartnership since January 2022 where FTSE Russell became administrator for FTSE ADX co-branded indices based on international best practices in index design, construction, maintenance, and management.
• AIFC (Astana International Financial Centre)strategicStrategic or Co-development PartnerAIFC Connect forum hosted in Abu Dhabi focusing on strengthening investment cooperation between Kazakhstan and UAE, highlighting expanding financial initiatives and AIFC's role as regional financial hub.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Dubai Financial Market (DFM): UAE's second national exchange and ADX's closest direct peer; both are regulated by the UAE Capital Markets Authority, jointly suspended trading during the March 2026 events, and together represent ~$1.1T combined UAE market cap.
• Saudi Exchange (Tadawul): The largest exchange in MENA and the GCC's flagship; competes for listings and listings fees and is the natural aspirational benchmark ADX references as 2nd-largest in GCC.
• Qatar Stock Exchange (QSE): Another GCC national exchange with similar product structure (equities, ETFs, derivatives) and government ownership; directly comparable to ADX in scale, regulatory model, and investor mix.
• Boursa Kuwait: Kuwait's national exchange operating a similar Main/Growth market dual-segment model with comparable product set and shareholder demographics.
• Bahrain Bourse (BHB): MENA regional exchange directly connected to ADX via Tabadul; offers a smaller but structurally similar multi-asset venue and competes for GCC listings.
• Muscat Stock Exchange (MSX): Oman's national exchange and Tabadul member; comparable product set and GCC issuer base, though smaller scale.
• Astana International Exchange (AIX): Connected to ADX via Tabadul; similarly state-backed with rapidly growing listings and ETFs, operating in a comparable emerging-market regulatory environment.

Broad incumbents

• Hong Kong Exchanges and Clearing (HKEX): A vertically integrated exchange operator with equities, derivatives, clearing (post-trade), ETFs, and bond listings — the architectural blueprint ADX is replicating with AD Clear and AD CSD.
• Singapore Exchange (SGX): Multi-asset emerging-markets exchange with strong derivatives and ETF franchises; comparable product breadth and a benchmark for ADX's derivatives growth via AD Clear.

Regional players

• Nigerian Exchange Group (NGX): Africa's largest exchange group — directly connected to ADX via active dialogue on cross-listing (Dangote Refinery) and African exchanges linkage; comparable in scale within its region but geographically distinct.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/abu-dhabi-securities-exchange-adx-
• Xx.com/ADX_AE

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Abu Dhabi Securities Exchange