In 2024, ADX made remarkable strides in transforming and securing the future of its capital market ecosystem. Building on the momentum from 2023, we enhanced our market infrastructure, improved our trading ecosystem, and bolstered our international presence.
Throughout the year, global economic uncertainties posed challenges to investor confidence, while evolving regulations demanded greater agility. Additionally, rapid technological advancements necessitated ongoing infrastructure upgrades.
In response, ADX sharpened its focus on delivering value through efficiency, transparency, and innovation. Maintaining market liquidity and attracting international investors remained key priorities, supported by strategic partnerships and the introduction of new product offerings.
Despite the challenging macroeconomic environment, ADX was strategically positioned to navigate obstacles and achieve performance and growth ambitions by staying committed to its long-term strategy.
ADX delivered strongly on its 2024 strategic objectives. We expanded our ETF offering to 16 products, the largest in the MENA region, and facilitated over AED 262 billion in foreign trading, representing 40% of total activity. Our listed ETFs saw a 186% increase in trading activity and a 94% growth in assets under management (AuM) over the past five years. Net foreign investments amounted to AED 24 billion.
In 2024, our registered investor base grew by 10% year-over-year. We also welcomed the listing of two of the world’s largest IPOs – NMDC Energy and Lulu Retail Holdings – which positioned ADX as the 6th largest exchange by IPO proceeds worldwide, raising approximately USD 3.35 billion. In the Middle East, ADX accounted for 27% of IPO proceeds.
Additionally, we expanded our listing portfolio to 187 securities and facilitated a 7% increase in total trading value to AED 342 billion. By the end of 2024, the ADX Growth Market’s market capitalization reached AED 115 billion, an increase of 34% year-over-year, with shares traded worth over AED 28 billion and 14 listed companies.
Furthermore, we signed agreements with several global exchanges to join Tabadul, expanding investment opportunities for investors in markets from Jordan to Kazakhstan.
In 2025, we also introduced the ADX Group, comprising the Exchange (ADX) and launched two new subsidiaries AD Clear and AD CSD.