The insider trading prohibition period mandated by the Abu Dhabi Securities Exchange (ADX) commenced on September 16, pending the full disclosure of Q3 2024 financial statements.
ADX stated that the decision has been taken in line with Article No (14) of the Securities and Commodities Authority (SCA) Board of Directors’ Decision No (2/R) of 2001 concerning the regulations as to trading, clearing, settlement, transfer of ownership and custody of securities.
The resolution shall be circulated to SCA, all listed companies, all departments at the exchange, all brokers accredited by the exchange, and all ADX investors.
Under Article 14, chairpersons, board members and employees with insider information cannot trade in their company’s or its affiliates’ securities for 15 days before and until the financial statements are disclosed.
In other news, the exchange bolstered its position as the most active and liquid market for exchange-traded funds (ETFs) in the Middle East and North Africa (MENA) region, recording significant trading value and volume since the beginning of 2024.