The Abu Dhabi Securities Exchange (ADX) has announced new plans geared towards making major deals even more transparent.
With trade and investment houses across the world looking to boost transparency in a bid to retire investor confidence following the global economic crisis, the exchange has confirmed that it is to launch a special 'big blocks' market for deals involving large amounts of shares.
Specifically, it is intended that traders will be able to keep an eye on developments in this sector on separate screens within the ADX, the National has reported, with bosses at the exchange confident that this will boost transparency without having any influence on the deals going through.
This new system, which is set to go live on March 3rd, will bring to an end the current system whereby such large-volume deals take place away from the public eye, with news often only emerging once a deal has been concluded.
This comes just days after the Securities and Commodities Authority (SCA) voiced its approval for the planned merger of the ADX with the Dubai Financial Market.
Posted by Bob Brunskill