Abu Dhabi Securities Exchange showcases tech developments at GITEX
Priya Wadhwa
10x Industry

Abu Dhabi Securities Exchange showcases tech developments at GITEX

ADX demonstrates digital initiatives to improve experience for investors.

Abu Dhabi Securities Exchange (ADX), the market for trading securities in Abu Dhabi, has showcased two digital developments — Arqam and ADX Digital Wallet powered by payit — at GITEX Technology Week 2019.

Powered by artificial intelligence (AI), the Arqam platform supports business management through data-based decision making. Specifically, it uses machine learning (ML) to provide advice and information, using a selection of data mining, analytical data process of internet data and reporting.

With Arqam, ADX will be able to provide more insights into the market through user friendly access from desktops as well as mobile, thereby improving the experience for investors.

“The attributes of Arqam empower board of directors, management, and decision-makers with a variety of different perspectives to boost the executive process. The advantages of this application also ensures that customers and stakeholders are brought closer into the process, by providing more insights into the Exchange based upon the Platform’s decision support system.”
His Excellency Khalifa Salem Al Mansouri, Acting Chief Executive of ADX

The second demonstration was ADX Digital Wallet, is powered by Payit, “UAE’s first fully featured digital wallet.”

Using ADX issued investor number, the ADX Digital wallet is an innovative and convenient way to distribute cash dividends to investors. Moreover, the easy-to-use digital platform empowers users to deal with the stock exchange in real time and “receive the dividends instantly within their wallet as soon as it is distributed,” said His Excellency Khalifa Salem Al Mansouri.

He added, “This empowers investors and corporate entities to move away from a manual dividend distribution process through cheques or other means. The approach is one expression of our competitive regional-leading exchange, with services on a par with the best in the world.”

In addition to these two innovations, ADX said that it is in the second phase of its digital platform, called SAHMI, which was launched to enable ADX’s investors to obtain various new digital services for themselves as well as their children.

The second phase allows investors to transfer securities between their different accounts as well as between various financial markets. It also empowers investors to electronically attend and vote during Annual General Assembly meetings for listed companies. The second phase also supports the issuance of reports including Investor Securities Pledge Report, Cash and Equity Earnings Report, Stock Transfer Report.

The ADX has initiated a comprehensive suite of electronic systems, solutions and smart applications focused upon enhancing the digital infrastructure and driving the transformation strategy of the Abu Dhabi Government.

Through the introduction of these new digital transformation initiatives, ADX will empower individual and group investors, brokerage firms, listed companies as well as various other stakeholders to manage their investments on-the-go and engage with the market from wherever they are.