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ADGM and Shanghai Stock Exchange collaborate on the establishment of a Belt and Road international exchange in ADGMADGM FSRA 23/04/2018
Abu Dhabi Global Market, the international financial centre of Abu Dhabi, UAE (ADGM) and Shanghai Stock Exchange (SSE), China's largest securities exchange, have today entered into a Memorandum of Understanding (MOU) to co-operate on the establishment of a "Belt and Road" Exchange in ADGM. This co-operation harnesses Abu Dhabi’s strategic position along the Silk Road Economic Belt, ADGM's best-in-class regulatory regime and SSE's position as one of the largest and fastest growing global exchange. The international exchange will fulfil the investment and financing needs for issuers, investors and market participants within the MENA region, along the Belt-and-Road route, and globally.
This landmark MOU marks the successful culmination of a close relationship developed between ADGM and SSE, including on-site visits and extensive engagement with key stakeholders in both markets that covered a wide spectrum of focus areas including regulatory requirements, legal frameworks, alongside investment requirements of potential local and global market participants. When established, the "Belt and Road" Exchange in Abu Dhabi will serve as a key international capital-raising platform supporting Chinese enterprises, foreign companies and global organisations to finance their investments, including along the Silk Road Economic Belt network.
The partnership with SSE is a testament to ADGM's commitment to China and further cements the deep mutual respect and existing long-term relationships between ADGM and various Chinese authorities and stakeholders.
Mr QUE Bo, Deputy President of Shanghai Stock Exchange, said: "Shanghai Stock Exchange is pleased to enter into this landmark MOU with Abu Dhabi Global Market. We will continue to work closely with ADGM and strategic partners to determine the operational model, product offerings and critical path to success in achieving the common objective of establishing a world class One Belt One Road Exchange."
Mr Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority of ADGM said: "We are pleased to support China's "One Belt One Road" initiative and look forward to further strengthening our relationship with Shanghai Stock Exchange as the "Belt and Road" Exchange is developed within ADGM. We will work closely with our partner to better serve the ever-increasing capital and investment needs of both markets and our respective pools of international industry participants.
As an international financial centre in Abu Dhabi, ADGM will continue to engage in and support ground-breaking initiatives that enhance the local financial services environment and those that lead to the acceleration of growth opportunities that bolster the economies of Abu Dhabi, the UAE and the broader MENA region."
Since 2015, ADGM has steadily entered into various discussions and significant co-operation arrangements with eminent and key authorities in China including the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, Shanghai Free Trade Zone, Qianhai Authority, the State Administration of Foreign Exchange and the financial communities and others.
These mutually-beneficial co-operative arrangements are focused on increasing cross-border activity, business expansion and regulatory collaboration between Abu Dhabi, the UAE and China. Through these partnerships, ADGM will continue to meet the long-term financial and investment needs and interests of the UAE and China.
About Shanghai Stock Exchange
Established in 1990 and is directly regulated by the China Securities and Regulatory Commission (CSRC), Shanghai Stock Exchange (SSE) is the largest securities exchange in China and one of two stock exchanged based in China. SSE is also the 4th largest exchange in the world, after NYSE Group, Nasdaq and Japan Stock Exchange, with a market capitalization of more than US$5 trillion, based on the 2017 World Federation of Exchanges Ranking. SSE has more than 1,300 listed companies and sees more than 100 new companies to be listed annually. It is the fastest growing equity exchange in the world and is expected to move up the global rankings further in the next few years.
About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global centre for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM's strategy is anchored by Abu Dhabi's key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as IFC governs the Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and success within an international regulatory framework based on Common Law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket and Linkedin: ADGM
* Source: The Global Investor Middle East and North Africa (MENA) Awards
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 Based on WFE monthly report as at 31 Dec 2017.