Abu Dhabi's ADX signs MOU with Tel Aviv Stock Exchange

Dubai/Jerusalem: Abu Dhabi's ADX securities market has signed a memorandum of understanding (MOU) with Israel's Tel Aviv Stock Exchange (TASE) to foster co-operation between the two exchanges, the Abu Dhabi government media office said Wednesday on Twitter.

The formalisation of ties between the UAE and Israel on September 15 has paved the way to commercial deals in various fields.

Wednesday's MOU "lay(s) out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation," the TASE said in a statement.

It predicted a cross-listing of securities, mutual trading and introduction of investors by each exchange's respective members and data-sharing.