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Abu Dhabi 14-10-2019 / WAM
The Abu Dhabi Financial Market Regulatory Authority (ADRA) today issued regulatory guidelines for the development and use of automated software interfaces in the market.
The Financial Services Regulatory Authority emphasized the importance and role of automated interfaces that conform to the best international standards in promoting and advancing the digital transformation of an organization and building a secure, efficient and data-driven economy.
The new guidelines are designed to define FSAA standards for the design and documentation of automated software interfaces, security, data governance and maintenance, and ways to use these interfaces for companies wishing to establish or operate in the Abu Dhabi Global Market.
Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority, said: “Collaboration between financial institutions and financial technology innovators is a key pillar for the development of innovative solutions that can transform the financial services industry. The guidance of the Financial Services Regulatory Authority will help to adopt a unified approach in the development and provision of automated interfaces to support expansion and collaboration efforts in a secure manner and encourage the adoption of these interfaces within Nzawmh financial services.
The regulatory guidelines are part of the Abu Dhabi Global Market’s efforts and commitment to support the Abu Dhabi Government’s digital transformation strategy and strengthen Abu Dhabi’s position as a smart city with a strong digital economy.
Based on its global position as a financial center and regulator of financial services, the Abu Dhabi Global Market is keen to monitor the latest developments and innovations in the financial sector and the global economy. And the region in general.
