Finstreet, a Rorix Holding subsidiary, has bolstered its platform by receiving eight licences in Abu Dhabi. These licences will enable the firm to launch a digital MTF, central securities depository, private financing platform in the Abu Dhabi Global Market (ADGM).
Three Finstreet subsidiaries will be the first regulated, global market infrastructure to offer an end-to-end hybrid traditional and blockchain-powered ecosystem to investors and issuers. It will offer the full lifecycle of financial assets, including origination, issuance, trading, settlement and custody.
As an MTF, Finstreet Global Markets Ltd will provide a secondary market trading facility for professional clients for securities having their primary market listing on other exchanges. The firm’s future strategy envisages expansion into a full suite of assets. This includes commodities, following IHC’s recent announcement of Rorix Holdings, which aligns with the UAE’s CEPA strategy to enhance global finance and trade facilitation.
Dr. Thani bin Ahmed Al Zeyoudi, the executive chairman of Rorix Holdings stated: “Today’s launch of Finstreet and the granting of its FSP license by ADGM’s Financial Services Regulatory Authority (FSRA) is a testament to the UAE’s commitment to embracing technological advancement as well as enabling inclusive global trade.
“I am certain that Finstreet’s digitised trade exchange platform will provide markets with a holistic approach towards international trade. It will also bring a new standard to capital markets on a global scale.”
Driving innovation
Following the direct application of English common law under the regulation and supervision of the FSRA, Finstreet provides a platform for transitioning towards the future of capital markets as they respond to the opportunities presented by new technologies.
Ahmed Jasim Al Zaabi, the chairman of Abu Dhabi Global Market
Ahmed Jasim Al Zaabi, the chairman of Abu Dhabi Global Market (ADGM) stated: “Finstreet’s pioneering initiative embodies ADGM’s unwavering commitment to driving innovation and redefining the future of global finance. By establishing the first regulated digital market for the trading of both public and private securities within our jurisdiction, we are further solidifying Abu Dhabi’s status as a premier global financial hub. This launch not only reinforces our strategic vision of positioning Abu Dhabi at the heart of global finance but also propels economic growth and enhances connectivity across the global marketplace.”
Ajay Hans Raj Bhatia, the chief executive officer of Sirius International Holding and managing director of Finstreet said: “With this initiative, we further our mission to diversify UAE’s economic growth agenda. Finstreet provides a foundation for a new, innovative infrastructure to allow global financial market participants to both realise their own capital raising ambitions and participate in the substantial growth story of UAE-based firms.”
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