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The Abu Dhabi Stock Exchange (ADX) and the Bahrain Exchange (BHB) have announced the launch of Tabadul, the region’s first digital trading hub.
The exchange marked the launch of Tabadul with an official bell-ringing ceremony that was broadcast live from BHB and ADX headquarters.
Hisham Malak, Chairman of the Abu Dhabi Stock Exchange (ADX), sounded the opening bell at the Abu Dhabi Stock Exchange, and Shaikh Salman bin Khalifa Al-Khalifa, Minister of Finance and National Economy, sounded the opening bell at the Bahrain Exchange Minister of Commerce and Industry The meeting was attended by Zayed bin Rashid Al Zayani, head of the Bahrain Exchange, Rashid Mohamed Maraj, Governor of the Central Bank of Bahrain, and the boards and executive management of both exchanges.
Mutual market access model
Tabadul is the result of a strategic partnership agreement signed by the Abu Dhabi Stock Exchange (ADX) and Bahrain Exchange (BHB) in November 2021 to implement cross-border initiatives in both transactional and post-trade environments. Based on a mutual market access model, Tabadul will allow investments on the Bahrain Exchange and Abu Dhabi and enable investors to trade directly on both exchanges through licensed brokers in both markets.
In his welcome speech, Sheikh Salman said: “Capital markets play a vital role in accelerating economic development, and today we are witnessing the extraordinary launch of strategic cooperation between Bahrain and the UAE, witnessing the partnership with Hamad bin Salman. His Majesty King Issa Al-Khalifah and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, have been supportive. We are keen to explore new ways of working together within the capital markets ecosystem to improve the investment climate in both countries to further support the local economy.”
Speaking at the conference, Malak noted: “The long-term vision of our pioneering leaders is to create a network of exchanges in the region to ensure market liquidity and lasting financial prosperity. This vision has become a reality with the launch of Tabadul in partnership with Bahrain Exchange under his leadership. The partnership highlights the central role of capital market development in regional growth.
new milestone
“The launch of Tabadul reflects the emirate’s commitment to building closer economic ties with countries in the region and enhancing market liquidity. It is a step in strengthening cooperation between the UAE and Bahrain and will further bring economic prosperity to both countries. This new milestone will contribute to Abu Dhabi’s economic growth by accelerating economic diversification and strengthening its financial services sector, attracting a wider range of investors and issuers from around the world and creating a vibrant capital market surroundings.”
Saeed Hamad Al Dhaheri, Managing Director and CEO of ADX, commented: “Expanding regional partnerships is a core element of ADX One’s strategy to increase liquidity, improve market efficiency and drive sustainable growth of the exchange. The launch of Tabadul A testament to our commitment to strategy and to being the market of choice for issuers and investors. Tabadul will strengthen connections between regional exchanges and expand investment opportunities for investors. We look forward to working closely with our partner Bahrain Exchange , to further strengthen our services and bring more capital markets to the hub, thereby promoting the growth of capital markets in the region and supporting the diversification of GCC economies.”
Shaikh Khalifa Bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse and Deputy Chairman and Managing Director of Bahrain Clear, commented: “The launch of Tabadul is the culmination of the efforts of BHB and ADX over the past eight months and reflects BHB’s commitment to strengthen coordination with The cooperation of the GCC Exchange is in line with the Economic Recovery Plan’s financial services sector development strategy, which prioritizes the development of capital markets.”
mutual benefit
“The launch of Tabadul is a major milestone achievement for the regional capital markets. Tabadul will be mutually beneficial to both capital markets – ADX and BHB, supporting the continued continued growth of both markets by expanding their respective investor bases and satisfying investors Broad horizons. We look forward to continuing to work with our partner ADX to further enhance and broaden Tabadul’s market offering as we continue to strengthen our mutual market connections.”
ADX has 20,000 registered Bahraini investors with a total traded value (buy + sell) of AED 1.3 billion ($350 million) and a 2021 volume (buy + sell) of 320 million shares. The launch of Tabadul is expected to further increase these numbers.
Tabadul is available to all investors who have registered with an eligible local broker and filled out the necessary KYC documents required by the local exchange in their country of residence. Securities on Tabadul are traded in the local currency of the respective exchange, and in some cases in the designated currency of the traded asset, with no minimum amount required for orders. Investors can trade on the onboard exchange on specified dates and trading hours. All investors must conduct corresponding securities transactions in accordance with their respective capital market statutory holidays and trading hours. — arab trade news agency
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