[ad_1]
The agreement aims to create a regional network of knowledge and information sharing to enhance liquidity
file photo
The Abu Dhabi Stock Exchange (ADX) and the Muscat Securities Market (MSX) signed a memorandum of understanding (MOU) on Wednesday aimed at laying a solid foundation for a closer partnership and exchanging vision and experience. Both parties are in various areas of mutual interest.
The MoU, signed during the visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, to the Sultanate of Oman, aims to strengthen cooperation in a wide range of fields to serve the common interests. The agreement is also in line with ADX’s commitment to support the UAE’s strategy of economic diversification and growth to promote prosperity in the country.
Saeed Hamad Al Dhaheri, Managing Director and CEO of Abu Dhabi Stock Exchange, commented: “The signing of this MoU reaffirms Abu Dhabi and ADX’s commitment to establishing a regional knowledge and information sharing network aimed at enhancing flows Sex and mutuality with our regional partners for long-term economic growth.
It is in line with the GCC’s efforts to promote financial integration and 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.
To this end, ADX will continue to successfully establish close working relationships, cooperation and collaboration with regional and international financial markets to date. “
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: “These agreements and MoUs will enhance the level of cooperation between the two parties. Both markets, it is hoped that they will have a positive impact on strengthening the relationship between the various components of the capital sectors of the two countries.
Al Salmi stressed that this cooperation will create many investment opportunities, support economic development, benefit from the experience of the Abu Dhabi Stock Exchange and strengthen the fraternal relationship between the two countries – hoping for quality and excellence between the two markets The relationship can continue.
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.
ADX has also signed a Memorandum of Understanding with Muscat Clearing and Depository Company SAOC (MCD) for dual listing of securities on both markets. This will further develop the clearing and central depository functions of the two markets and allow parties to obtain the required licenses and approvals to cooperate and establish joint working committees on issues of mutual interest.
As part of the growing relationship, 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, securities listed on MSE will be traded on the platform alongside securities listed on ADX and BHB, which will foster economic growth, build regional partnerships, increase liquidity and drive sustainable growth in the region’s stock markets.
Also read:
[ad_2]
Source link