The Abu Dhabi Securities Exchange (ADX) has been declared the winner of the Best Trading Innovation Excellence - GCC 2020 at the Capital Finance International (CFI) Awards. The prize recognizes the leading role in innovation that the Exchange has played in developing a series of initiatives and pays tribute to those designed to support investors in the current times of global turbulence in markets. The CFI Awards seek out organizations that contribute significantly to the convergence of economies and truly add value for all stakeholders.
H.E. Khalifa Al Mansouri, Chief Executive of ADX, said:
“Innovation is an essential aspect of our long-term growth strategy and guides us to identify business development opportunities. Investing in innovation defines our organization’s future success. This is why, despite the challenging times that markets are experiencing right now, ADX is redoubling innovation as it develops tailored digital products and services that respond to customers’ needs in an evolving environment. Receiving the CFI Best Trading Innovation Excellence Award is of special significance not just for the Exchange but also for each and every ADX employee as winning represents the collective efforts of our whole team. We have the best group of people ever and no mission seems a problem with these amazing people behind us and an encouragement to further improve our performance”.
For ADX, Innovation is a catalyst for growth. The Exchange regularly conducts market analysis that help identifying opportunities for Innovation in the Finance Industry and exploring the full potential it may bring. This in-depth strategy is paying off and is now perceived from investors as one of ADX’s key competitive attributes. ADX prepares comprehensive and timely reports to help investors monitor and manage their portfolios. With the SAHMI digital platform, ADX has introduced an electronic voting service enabling investors to vote remotely on the general assembly of companies in which they own shares. In addition, ADX recently launched its digital wallet powered by Payit that enables the sending and receiving of digital funds with ease. ADX digital wallet empowers users to manage their stock exchange requirements through a real-time digital payout model, where investors receive their cash dividends instantly within their wallet as soon as it distributed. ADX’s Digital Acceleration programme illustrates the approach as a pivotal part of global transformation occurring at the Exchange. ADX is at the forefront of digitization, as an instrument to enhance interactions with its customers and to achieve international best practice alignment with leading global financial markets.
Al Mansouri added: “The Exchange has used innovation as a blueprint to activate changes and develop business capabilities. Our innovation pipeline is extremely active and we commit to innovation in our day-to-day practices, encouraging creativity, information sharing and exploration. We are building upon this and are now in the acceleration stage. “Let’s shift the gears up” is our driving motto; it constantly pushes us to put principles in action and is our source of motivation to continue asserting ADX as the innovation benchmark for Exchanges in the region”.
From their part, CFI stated:
“Digital transformation should be treated as an ongoing journey rather than a concrete destination. While there are many claims of far-reaching tech capacity, the current global crisis has separated the wheat from the chaff in terms of business adaptability and technical prowess. With its Digital Acceleration program, Abu Dhabi Securities Exchange (ADX) shines on both fronts, particularly because of the rapid and responsible measures it has taken to ensure business continuity during the pandemic outbreak. Noting the navigation of a turbulent market with a steady hand and quick wit, the CFI.co judging panel has declared Abu Dhabi Securities Exchange as winner of the 2020 Best Trading Innovation Excellence (GCC) award.”
ADX benchmarks innovation performance against industry peers to challenge best-in-class standards. The Exchange is deploying cutting-edge innovations to transform the way that it carries out financial transactions and sharpen its business model. Innovation reflects the essence of ADX’s customer centric strategy as it is one of its three pillars: Transformative, Responsive and Innovative. It ensures ADX’s resulting operational plan is always connected to meaningful targets, those that filter innovation opportunities based on their commercial viability and fit with ADX’s global business objectives. Innovation is the value proposition of ADX business model, enabling to scale and generate revenues and enhance the Exchange’s global performances.
It is worth to note that in 2015 ADX won the award of the Most Innovative Financial Market in GCC for the outstanding services the Exchange provides to its clients and stakeholders. ADX is also the winner of ITP. Gov award for the Best Government-to-Customer (G2C) Service of 2017 on utilizing Bloackchain technology in its services.