Monday 28, May 2018 by Jessica Combes

ADX joins Equichain’s blockchain working community

 

The agreement aims to bring efficiencies to capital markets

London-based Equichain has signed a partnership agreement with the Abu Dhabi Securities Exchange (ADX) to join its working community, which aims to bring efficiencies to capital markets.

Equichain operates two exclusive, invitation-only working groups, one for institutional investors and one market infrastructure providers. The goal of this strategic initiative is to seamlessly connect the two ends of the institutional investment spectrum through blockchain technology; thereby eliminating some of the intermediating layers that form part of today’s trade cycle, whilst enabling incumbents to redefine and expand their product scope.

Both groups bring together thought leaders from across the financial services industry to explore applications of Equichain’s platforms and products, in addition to providing a forum to discuss the practical application of blockchain in capital markets. As a partner of Equichain, ADX will work closely with the other members of the group to facilitate a closer dialogue and share experiences and best practices on institutional blockchain technology, which can be utilised by the Exchange. 

“The open exchange with Equichain and members of the working group will allow us to identify and test new applications of blockchain technology, aiming to enhance the speed and security of capital market transactions to the benefit of our investors and stakeholders,” said Chief Executive of ADX, Rashed Al Blooshi.

ADX is the first stock market in the Middle East and North Africa (MENA) region and the third globally to adopt blockchain in its services. Embracing this new technology is a core component of ADX’s strategic innovations to further empower and strengthen services provided to domestic and foreign investors, listed companies and stakeholders. ADX has utilised blockchain technology in e-voting services for Annual General Meetings (AGMs) of its listed companies, to provide a seamless and secure e-voting management solution.

ADX is one of four financial market infrastructures from the MENA region to join the working community. This reflects Equichain’s specialism in emerging markets as well as the region’s eagerness to innovate and adopt disruptive technologies such as blockchain.

 

 

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