Thomas Zeeb was on the SIX executive board for 14 years, latterly as Global Head of Exchanges which included SIX, BME, and the SIX Digital Exchange. This week he emerged as Global Head of Exchanges of FinStreet, a UAE based group where the subsidiaries have just received licenses to issue stocks, and to operate an exchange and central securities depository (CSD). It’s based in the Abu Dhabi Global Market (ADGM), the international financial center.
FinStreet is an indirect subsidiary of the UAE’s International Holding Company (IHC). It boasts a market capitalization of $245 billion, making it amongst the 50 most valuable listed companies in the world. In the Middle East, IHC is second only to Saudi Aramco.
When Zeeb departed SIX in early 2023, the exchange credited him with “a central role in the conception and development of the SIX Digital Exchange (SDX).” Given Finstreet’s base in the ADGM, it will target international issuers and investors.
The three subsidiaries are:
- Finstreet Capital – Private markets issuance and advisory
- Finstreet Global Markets – a multilateral trading gacility (MTF)
- Finstreet Global Clearing and Settlement – a CSD, providing custody and digital settlement infrastructure
It will cover both digital and traditional securities and primary and secondary markets.
“Finstreet’s pioneering initiative embodies ADGM’s unwavering commitment to driving innovation and redefining the future of global finance,” said H.E. Ahmed Jasim Al Zaabi, ADGM Chair.
“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.”
Stepping back, Mr Zeeb has been involved with several major DLT initiatives. In addition to SDX, the world’s first regulated digital securities exchange, SIX also established AsiaNext as a joint venture with Japan’s SBI. Additionally, Mr Zeeb is a director of the Athens Exchange Group which operates ATHEX. Earlier this year ATHEX announced plans to use blockchain for book building for IPOs.
