Wed 31-10-2018 15:18 PM
ABU DHABI, 31st October, 2018 (WAM) -- Ahmed Saleh Al Marhoon, Director-General of Muscat Securities Market and Chairman of the Federation of Asian and European Stock Exchange, on Tuesday recommended the need for markets to attract more investors, upgrade the implementation and application of distributed ledger technology, DLT, and blockchain.
These moves represent an important opportunity to enhance the efficiency of securities markets, develop digital services and facilitate access of investors to services, as well as management of their trades, he said at the end of the Federation of Asian and European Stock Exchange Conference, ConFEAS 2018.
The two-day conference themed 'Augmented Reality of Trading and Settlement Ecosystems', was organised by Abu Dhabi Securities Exchange, ADX, in cooperation with the Federation of Asian and European Stock Exchange on 29th and 30th October 2018.
Rashed Al Blooshi, Chief Executive of ADX, highlighted the significant achievements of the Abu Dhabi government, which enabled the emirate to become the ideal destination for business and innovation.
Abu Dhabi has bolstered its position in the Global Financial Centres Index, GFCI, regionally and globally, ranking 26th in the world, outperforming advanced financial centres such as Geneva and Seoul. Abu Dhabi also ranked second on the Ipsos Top Cities 2017 list. "These results are a testament to the emirate’s progress on several levels, particularly, its attractive business environment, the evolution of its infrastructure and the quality of its financial sector," Al Blooshi said.
On ADX, he noted, "Implementing FinTech services in ADX has been instrumental in strengthening its position in the region as a preferred destination for listing and trading. We continue to develop our digital services and employ the most innovative technologies to improve the quality and efficiency of services provided to investors, customers and stakeholders alike."
Al Blooshi stressed the need to proactively employ modern technologies to manage financial markets, develop the financial infrastructure, improve governance systems and disclosure and transparency standards to increase investor confidence and enhance the performance of capital markets to achieve sustainable stock markets.