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Abu Dhabi: The Abu Dhabi Stock Exchange (ADX) and the Muscat Securities Market (MSX) have reached an agreement to strengthen cooperation in a wide range of areas to serve their mutual interests.
The MoU aims to strengthen bilateral cooperation and information sharing, including in areas such as advisory services, training, system development and promotion of integration. It also provides a channel for direct communication between the parties for the exchange of legal and technical information, sustainability and ESG.
“The MoU reaffirms Abu Dhabi and ADX’s commitment to establishing a regional knowledge and information sharing network aimed at enhancing mobility and shared long-term economic growth with our regional partners,” said Saeed Hamad, MD and CEO of Abu Dhabi Al Dhaheri said Dhabi Stock Exchange. The signing of the MoU by ADX and MSX aims to further develop the investment and capital market landscape between the two countries by adopting the highest standards of regulatory best practices in both markets. “
MSX will join the “Tabadul” platform created by ADX in partnership with Bahrain Exchange (BHB) to connect regional exchanges. Tabadul is built on a mutual market access model that enables investors to trade directly on the onboard exchange through a local authorized broker. As such, MSE-listed securities will be traded on the platform alongside ADX and BHB-listed securities, a move that will create regional partnerships, increase liquidity and drive sustainable growth in the region’s equity markets.
On this occasion, Haitham bin Salem Al Salmi, Chief Executive Officer of the Muscat Stock Exchange (MSX) and Chairman of the Board of Directors of the Muscat Clearing and Depository Company (MCD), said: The MoU will open the way for the creation of many investment opportunities . All investors, supporting economic development, benefit from the experience of ADX and strengthen the brotherly relationship between the two countries.
dual listing
ADX has also signed a separate agreement with MSX to facilitate dual listing of securities in both markets. The agreement sets out the legal basis for such transactions and unifies the operational, administrative and technical procedures required for effective cooperation and coordination.
ADX signed a memorandum of cooperation with the Muscat Clearing and Depository Company. SAOC (MCD) performs dual listing of securities in both markets and further develops the clearing and central depository functions of both markets.
MSX appoints financial advisor
MSX is working with UAE-based Al Ramz Corporation Investment and Development and Oman-based Ubhar Capital to develop capital markets plans in the Sultanate of Oman.
MSX, Al Ramz Corporation and U Capital will develop programs designed to increase participation in Oman’s capital markets and drive economic development in line with Oman’s Vision 2040.
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