Egyptian start-up Thndr, a member of Abu Dhabi's Hub71, has joined the Abu Dhabi Securities Exchange as the bourse's first remote retail trading member, allowing its users to invest directly into the UAE stock market.
The addition of Cairo-based Thndr, a digital investment platform with more than four million users, will boost the ADX's standing as a preferred destination for investments, the exchange said in a statement on Thursday.
Thndr, which set up base in the UAE capital through the Hub71 start-up platform, is regulated by Abu Dhabi Global Market's Financial Services Regulatory Authority. The company, which serves markets in the UAE, Egypt and the US, will provide its users with investment access to asset classes including stocks, gold, mutual funds and savings products, the ADX said.
The move is aimed at "creating tangible trading bridges across the region’s capital market", Abdulla Alnuaimi, group chief executive of ADX, said in the statement. "We are setting a benchmark for digital innovation and cross-border collaboration in financial services as we continue to be a key driver in Abu Dhabi’s transition to a knowledge and investment-led economy."
The ADX, with a market capitalisation of more than Dh3.15 trillion ($857.6 billion) as of Thursday, is the second largest exchange in the Arab world after Saudi Arabia's Tadawul. It was ranked as the seventh largest in the world for emerging market bourses in 2024.
The exchange has recorded a surge in initial public offerings in recent years, driven by robust investor demand for new issues, as well as economic growth in the UAE.
The arrival of Thndr on the ADX would also open the "doors to exposure within Mena [the Middle East and North Africa region] through Tabadul as well as beyond Mena", said Ahmad Hammouda, co-founder and chief executive of Thndr, referring to the ADX's digital exchange centre, which is the first of its kind in the region.
Thndr, founded in 2020, is also growing its workforce, with job postings on its Hub71 page. The company has raised $37 million in funding, data from start-up tracker Crunchbase shows.
THE%20SPECS
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FIGHT%20CARD
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
Naga
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Zidane's managerial achievements
La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
UAE currency: the story behind the money in your pockets
Mubadala World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
