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As part of this alliance, NYSE Euronext will provide ADSM, by end 2008, with state-of-the-art information and market infrastructure systems and technology to host all financial instruments admitted to trading on ADSM. In addition, NYSE Euronext and ADSM will explore the development of new ventures, including the implementation of ADSM’s derivatives market.
This agreement is consistent with ADSM’s ambitions to become the leading global exchange in the Gulf region, on the basis of its market expertise, modeled after the diversity and international footprint of NYSE Euronext.
Duncan L. Niederauer, Chief Executive Officer of NYSE Euronext, said: “We welcome this unique opportunity to work more closely with ADSM and are committed to the success of this strategic alliance, which is consistent with NYSE Euronext’s vision and strategic business objectives.”
Jean-François Théodore, Deputy Chief Executive Officer of NYSE Euronext, added: “We are delighted that NYSE Euronext and ADSM have established a cooperative working relationship on key areas of mutual interest for the benefit of our respective customers. We look forward to actively participate in ADSM’s global ambitions, on the basis of our state-of-the-art technology and strong expertise in financial products and services.”
H.E. Nasser Ahmed Alsowaidi, Chairman of ADSM, commented: “This new alliance between NYSE Euronext and ADSM is very welcome, and is very much in line with our ambitions for the
Tom Healy, Director General of ADSM, said: “This strategic alliance, which will create new growth opportunities to our mutual benefits, represents a significant step in bringing our capital markets closer together. We see that, based on this agreement, receiving support and advice from NYSE Euronext will significantly enhance our systems operations, broaden our product offering, and assist our development of new businesses, thus supporting ADSM in becoming the premier financial market in the region.”
For more information on NYSE Euronext, please contact:
Tel. +33 1 49 27 11 33 (
E-mail: nyseeuronextpressoffice@euronext.com
For more information on ADSM, please contact:
Fatima AlMuhairi
Tel. 00971 2 612 8719
Fax 00971 2 612 8728
E-mail fatimam@adsm.ae
Gavin Anderson & Company
Robert Kaltrachian
Byron Ousey
Tel. 00971 2 622 5775
Fax 00971 2 622 5770
Mob. 00971 50 7319722
E-mail robert@credo-ga.com
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of
About
The Abu Dhabi Securities Market (ADSM) serves the domestic cash equity market and has 64 listed companies with a market capitalization of US$128 billion. In 2007, average daily trading volumes increased by more than 400% with a substantial increase in foreign net investments. ADSM is expanding its relationships through a number of MoUs signed with exchanges in the Gulf Cooperation Council (GCC)* and Asia Pacific regions.
*GCC includes
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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