ADX, FTSE Russell launch new benchmark growth market index

The Abu Dhabi Securities Exchange (ADX) and FTSE Russell, a leading global provider of benchmarks and analytics, on Thursday launched a new benchmark index – FTSE ADX Growth Market Index (FADGMI).

The co-developed benchmark will track the performance of the ADX’s recently rebranded growth market segment---- an emerging equity segment on the Abu Dhabi bourse that connects investors and private businesses in sectors, ranging from sports to transport, wholesale trading, and health care.

FADGMI, the new index that went live yesterday, includes the eligible constituents of the "Growth Market" and will provide investors with the ability to mimic the “growth market” performance that consists of a wide range of emerging and fast-growing companies starting their capital market journey.

ADX, the Arab world's second-largest bourse by market value, said more co-branded indices are expected to be launched under the partnership in the coming months. “The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index (FADX15), a blue-chip benchmark of the 15 largest and the most liquid companies on ADX.”

The first of its kind in the region, ADX's partnership with FTSE Russell is part of the exchange's ambitious strategy to provide its investors with world-class benchmark indices and to broaden its product offerings further, ADX said. “This includes the introduction of the derivatives market with single stock futures in the fourth quarter of 2021 and FADX15 index futures in June this year.”

Saeed Hamad Al Dhaheri, managing director and chief executive officer of Abu Dhabi Securities Exchange, said the introduction of the FADGMI demonstrates the bourse’s commitment to providing market participants with new benchmarks that meet world-class standards, particularly with the exchange’s rapidly growing international investor base.

• Dubai