UAE Launches Digital Exchange Finstreet Led by Ex-SIX Exec Thomas Zeeb

Thomas Zeeb was on the SIX Executive Board for 14 years as Global Head of Exchanges including SIX, BME and SIX Digital Exchange. This week he stepped up as global head of exchanges for Finstreet, a UAE-based group where subsidiaries were licensed to issue stocks and operate an exchange and central securities depository (CSD). Its headquarters are in Abu Dhabi Global Market (ADGM), a major global financial center.

International Holding Company (IHC) of the United Arab Emirates indirectly owns FinStreet. With a $245 billion market value, it is among the world’s 50 most valuable listed firms.

IHC is second only to Saudi Aramco in the Middle East.

When Zeeb departed SIX in early 2023, the exchange gave him “a key role in the concept and development of the SIX Digital Exchange (SDX).” Given FinStreet’s foundation in ADGM, it targets international issuers and investors.

The three subsidiaries are:

FinStreet Capital – Private markets distribution and advisory
FinStreet Global Markets – A Multilateral Trade Facility (MTF)
FinStreet Global Clearing and Settlement – ​​a CSD, providing custody and digital settlement infrastructure
It covers digital and traditional securities as well as primary and secondary markets.

H.E. Ahmed Jassim Al Zabi, Chair of ADGM, stated that “FinStreet’s innovative initiative embodies ADGM’s unwavering commitment to drive innovation and redefine the future of global finance.”

Through the creation of the first regulated digital market in our jurisdiction for the trading of both public and private assets, we are strengthening Abu Dhabi’s position as a significant worldwide financial hub.

Going back, Mr. Zeeb has been involved in several major DLT initiatives. Besides SDX, the world’s first regulated digital securities exchange, SIX also established Asia Next as a joint venture with Japan’s SBI. In addition, 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.