Abu Dhabi Exchange Cuts Trading Fees, Extends Trading Hours
Abu Dhabi Exchange Cuts Trading Fees, Extends Trading Hours
(Bloomberg) --
The Abu Dhabi Securities Exchange will cut in half its trading commission and extend trading hours in an attempt to boost liquidity in the market.
Trading fees will be reduced to 0.025% from 0.05% starting from September 1, the exchange, known as ADX, said in a statement on Saturday. Trading hours will also be extended by one hour starting October 3, with the market opening at 10 a.m. and closing at 3 p.m. local time.
The Dubai Financial Market also said Saturday it will extend trading time to five hours daily as of Oct. 3.
A series of ongoing technical changes aimed at improving market liquidity and boosting market size have helped trading volumes surge on the ADX this year. The emirate’s stock benchmark has been trading at, or near, record highs in recent months, and is up 51% this year, making it one of the best performers globally.
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