By: Rami Sameh

Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) CEO, Rashed Al Blooshi, said on Tuesday that the market management is targeting to apply the electronic trade system Blockchain in financial settlements in 2017.

Last year ADX applied Blockchain in e-voting, and now it is planning to apply it in settlements to develop the market’s infrastructure, Al Blooshi added in his remarks to reporters on the sidelines of a seminar on the opportunities for business, trade and investments, which was organized by Abu Dhabi Chamber of Commerce and Industry.

Al Blooshi also said that ADX is the thirs bourse in the world to apply this technology, which is part of the exchange bundle of electronic and digital services to companies and investors.

ADX is also working on providing short selling this year, to cope with international exchange markets, he added.

Translated by: Moslem Ali