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John Tuttle, Vice Chairman of the New York Stock Exchange (NYSE) and President of the NYSE Institute, commended the UAE’s emergence as a key player in the global financial landscape. He credited this ascent to the nation’s strategic initiation of economic projects, positioning it as an ideal collaborator for the NYSE in exploring new markets.
Speaking to the Emirates News Agency (WAM), Tuttle emphasized the significance of the UAE’s financial markets and their substantial potential and adaptability. He highlighted the country’s commitment to innovation and progress, evident in its economic ventures and initiatives.
Emphasizing the UAE’s commitment to fortifying its financial framework and alluring foreign investments, Tuttle hailed it as a significant hub in the Middle East and North Africa.
He elaborated on how this determination led the NYSE to forge a Memorandum of Understanding (MoU) with the Abu Dhabi Securities Exchange (ADX) across pivotal endeavors.
The MoU aims to strengthen cooperation between the NYSE and the ADX, facilitating dual listings and joint development of new financial products like indices, exchange-traded funds (ETFs), and ESG tools.
Tuttle further asserted that this partnership strongly honors the region’s burgeoning potential and exponential growth. “Naturally, at the NYSE, we always aim to expand our global operations and explore new opportunities for strategic partnerships. Therefore, our partnership with the ADX will strengthen our regional presence, representing a strategic opportunity to link two rapidly growing financial markets,” he added.
“We are confident that this partnership will greatly enhance connections between global markets and provide international investors in the US with access to high-performing markets and companies in the Gulf region and beyond,” he added.
He elaborated that the collaboration with ADX extends beyond commercial cooperation, aligning with shared visions for enhancing financial market structures.
“We are committed to working together and have already established a framework for several projects, including dual listings and new financial products, to support investors in both regions.”
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