ADX Unveils ‘Sahmi’ Features
Abu Dhabi Securities Exchange (ADX) has unveiled the features of its new integrated digital platform, ‘Sahmi’ during GITEX Technology Week 2018, which ADX is partaking in at the Abu Dhabi government pavilion. The platform provides digital services for investors integrated with the SmartPass platform and The Whole of Government.
The new digital platform ‘Sahmi’ provides a unified service for investors, issues investor numbers and updates investors’ information. The platform also enables investors to inquire about profits or any information related to initial IPOs, transfer securities, issue reports related to investors’ portfolios, trading, deposited shares among other things.
Rashed Al Blooshi, Chief Executive of ADX highlighted the importance of ‘Sahmi’ in establishing a comprehensive database for investors, and automating service requests to manage investor relations, thereby achieving a significant transformation in ADX services for investors to enhance their experience.
Al Blooshi said: “ADX developed the integrated digital platform ‘Sahmi’ in line with the Abu Dhabi government’s digital transformation and to achieve a unique change in providing new-generation services. The platform enhances the quality of information used to provide services, saves time and effort for employees, and reduces the operational requirements to archive documents, thus optimising the use of time, effort and financial resources.”
Al Blooshi added: “ADX continually strives to enhance its technological infrastructure in accordance with international best practices and standards to service the stock market, contribute to the Abu Dhabi Government’s digital transformation initiatives, meet the needs of investors, and keep up with the world’s digital progress. ’Sahmi will enable a high-quality database for investors and will offer a link between different government entities through the government’s integrated system, and will eliminate the requirement of extra documents from investors.”
The integrated digital platform provides unified services and an integrated system that enables investors to manage their everyday transactions, reduces human interaction, and bolsters confidentiality and privacy of our investor database, which strengthens the quality of service and enhances the investors’ experience. This is achieved through efficient and innovative use of technology, which saves time and effort and yet complies with the highest levels of security, while preventing counterfeiting of requested document. ‘Sahmi’ represents an integrated platform providing investor services through several ADX channels such as website and smart phone application.
It is noteworthy that ADX was the first stock market in the MENA region to adopt blockchain in its e-voting for listed companies’ AGMs. Furthermore, in early 2018, ADX signed a Memorandum of Understanding (MoU) with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and seven leading global Central Securities Depository (CSD) companies, to collaborate on blockchain implementation in trading and capital market transactions. Additionally, ADX signed a partnership deal with Equichain to join its working community, which develops implementations of digital blockchain transactions to bring further efficiencies to capital markets.