Friday 01 July 2022 - 8:24:25 pm

ADX temporarily closing trading halls following COVID-19 concerns

ABU DHABI, 15th March, 2020 (WAM) -- The Abu Dhabi Securities Exchange, ADX, has announced to the investor community that the Exchange is temporarily closing its trading hall in its main offices in Abu Dhabi as well as those in the other emirates beginning 15th March 2020 and until further notice.

According to a press statement, the decision was taken by ADX as "a precautionary measure to protect public health in the United Arab Emirates and ensure the health and safety of visitors."

The statement added that the decision is in line with World Health Organisation, WHO, recommendations to restrict public gatherings and has been taken as a preventative measure to mitigate against the current coronavirus pandemic.

Commenting on the announcement, Khalifa Al Mansouri, Chief Executive of ADX, said, "During this public health emergency currently experienced worldwide, it is prudent to take pre-emptive and coordinated precautionary measures is a prompt manner."

"Aligned with the World Health Organisation recommendations to restrict public gatherings, ADX has decided to close access to its trading halls from today. ADX aims to limit risks of person-to-person transmission out of public health concern," he added.

Al Mansouri went on to note that trading operations will not be affected by the closure of ADX trading halls, as the exchange offers various channels - traditional as well as digital - from which investors can trade.

"While our Government is raising awareness of preventive measures to aid public health, at ADX we are aligning with this public health strategy by reaching and protecting our investor community," he affirmed.

"To ensure maximum protection and apply restrictions of movement, we recommend that our clients use our digital investor service integrated platform ‘Sahmi’ that empowers users to carry out all daily operations online," Al Mansouri explained.

He noted that ADX has also sought to reduce overall risks for the welfare of the exchange’s employees and has shared the WHO’s recommendations and advice with all its employees.