Abu Dhabi Financial Market (ADX) is starting tomorrow with updated bidding units

Media In – Abu Dhabi – First of September 2018 / WAM

 The Abu Dhabi Securities Exchange (ADX) will begin trading on the shares of the companies whose shares are worth less than the dirham after the market has successfully passed all internal system tests and technical and technical procedures related to the price bidding mechanism. The new bid units include five units: AED 0.001 for securities within the range of AED 0.1 to AED 0.99 and AED 0.01 for the price range from AED 1 to AED 9.99 and AED 0.02 for the range from AED 10 to AED 49.98 and AED 0.05 for securities within the range Price range from AED 50 to AED 99.95 and AED 0.10 for securities at AED 100 and above. Rashed Al Baloushi, Chief Executive Officer of Abu Dhabi Securities Exchange (ADX), affirmed the market’s commitment to developing its operations and launching strategic initiatives that contribute to the realization of Abu Dhabi Economic Vision 2030. The modernization of the bid pricing mechanism will contribute to enhancing liquidity in the market and increasing the trading rates of investors and encouraging them to trade and invest their savings within the legal environment And the leading investment offered by Abu Dhabi Securities Market. He explained that the introduction of the new pricing system will enhance the efficiency and efficiency of the pricing process in the market and will attract greater liquidity due to the high profitability opportunities provided by the new pricing mechanism for both current investors and investors expected to enter the market in the future. The market carried out a set of internal systems tests to ensure that the technical and technical procedures were aligned with the new pricing mechanism for stocks, which included measuring the interaction of orders with the update and testing the validity of the information received from the trading system with the examination of the internal reports and the level of change therein, as well as updating all reports and systems affected by these changes. The website of the market