ABU DHABI / WAM
In a drive to enhance its status on the local and regional level, the Abu Dhabi Securities Exchange (ADX) will introduce a developed version of the Circuit Breaker System (CBS) starting from Thursday.
The improvements on the Circuit Breaker System based on the new method, offer many positive features such as the existence of two levels of Breaker Circuit and the entering of the security in the price bid period along with the ability to enter new orders and modify the previous ones. This will ensure instantaneous effectiveness and transparency of all parties in the trading process.
Rashid Al Baloushi, CEO of Abu Dhabi Securities Exchange, said that the Exchange’s Management spares no effort to introduce more improvements and updates to the system in accordance with the best international standards adopted by global exchanges and in consideration of the Exchange’s strategy which stems out from Abu Dhabi Government Vision 2030.
He emphasised that establishing more advanced and transparent mechanisms actually enhance the Exchange’s ability to attract investment, and ensure stability for the daily trading system will grant the trading activity more objectivity. Due to this feature, research and studies advise those in charge of financial markets to seek out organizational mechanisms, practices and regulations that ensure the efficiency, credibility and transparency of all the parties involved in the trading process in those markets.
He also pointed out that the Exchange is currently working on applying the new trading activity program which is considered the result of a continuous effort by the business development team at Abu Dhabi Securities Exchange. The team worked on preparing detailed and planned practical steps in which it relied on extensive studies, statistics and discussions with the dealers in the Exchange as part of the Exchange’s continuous efforts to develop its basic structure in accordance with the best practices in this field.
ADX introduces technical improvements on CBS
ABU DHABI / WAM