ADXdopts FTSE Russell’s Industry Classification Benchmark

ADXdopts FTSE Russell’s Industry Classification Benchmark

WAM: The Abu Dhabi Securities Exchange (ADX) to adopt FTSE Russell’s Industry Classification Benchmark (ICB) for all its listed equities as part of its strategy to align to global standards and attract more international investors.

The introduction of the ICB is part of the transition of ADX indices to the co-branded FTSE ADX index series, under the strategic partnership between FTSE Russell and ADX. The adoption of ICB by the Exchange is aimed at providing greater market transparency, enabling accurate research and supporting institutional investors portfolio management and asset allocation strategies.

The partnership between FTSE Russell and ADX is aimed to develop co-branded indexes and will support the recent launch of ADX’s derivatives market and pave the way for the creation of more index-linked investment products. In January, the FTSE ADX General Index replaced the ADX General Index.