Monday June 23 2014
News Source: Global Exchanges
Focus: Other
Type: General
Country: United Arab Emirates
Link: http://www.adx.ae/English/News/Pages/201406221456011866-22-20142-56-02PM.aspx
On 22 June 2014, Abu Dhabi Securities Exchange (ADX) signed as agreement with the National Bank of Abu Dhabi (NBAD).
The agreement paves the way for new debt instruments to be listed and traded on ADX as their primary platform.
Under the listing arrangement for the bonds, (NBAD) will act as ADX’s account operator. Settlement and clearing will take place via NBAD through ADX’s participant account at Euroclear
NBAD’s role will provide a window for investors who wish to trade or hold investments in the bonds, through ADX without holding an account with Euroclear, and will facilitate cross border settlement and clearing of trades in the bonds.
Click link above for further details.