Tabadul: Electronic link between Amman, Abu Dhabi stock exchanges launched

AMMAN: Jordan’s capital market institutions (ASE), in cooperation with Abu Dhabi Securities Exchange (ADX), officially launched the electronic link between the two markets through the “Tabadul” platform during an official ceremony held at the InterContinental Hotel in Amman.

The activation of the electronic bridge comes within the framework of strengthening joint cooperation between the Hashemite Kingdom of Jordan and the UAE, in line with efforts to develop regional financial markets and enhance integration among them.

What electronic link represents

The link is expected to broaden the investor base and increase access to financial markets through cross-market trading between the two exchanges via brokerage firms.

Emad Abu Haltem, Chairman of the Jordan Securities Commission, said that activating the electronic link between the two markets represents an important strategic step toward strengthening integration among Arab financial markets.

The project with ASE-ADX link is also expected to help boost liquidity, improve market efficiency, and provide broader investment opportunities for investors in both countries.

It also manifests the directions of the two brotherly governments, and reflects of the deep-rooted strategic and economic ties between the two countries.

Tabadul: Advanced integration

Abdullah Salem Al Nuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange, noted that the “Tabadul” platform represents an advanced model of integration among financial markets and facilitates access for investors and brokerage firms to member markets within a secure and sophisticated trading environment, thereby enhancing the attractiveness of the region’s financial markets.

Mazen Al Wathaifi, Chief Executive Officer of the Amman Stock Exchange (ASE), stated that activating the electronic link with Abu Dhabi Securities Exchange (ADX) comes within the strategic partnership between the two brotherly countries and their joint cooperation in economic fields in a manner that serves their mutual interests.

Openness, enhancing markets

He added that this step supports the exchange’s strategic objectives by strengthening openness to regional and global financial markets, promoting the exchange of expertise, and enhancing market liquidity and depth through facilitating the flow of Arab and foreign investments into the market.

Sara Al Tarawneh, Chief Executive Officer of the Securities Depository Center, also affirmed that activating the agreement enables investors to trade between the two markets with ease and efficiency within a fully integrated legal and regulatory framework, while ensuring settlement, clearing, and pre- and post-trade services are carried out with the highest levels of accuracy and reliability.

The ceremony also featured a presentation on the “Tabadul” platform and how it operates.

Cooperation, strategic partnership

On the sidelines of the launch event, the opening bell was rung to mark the official commencement of the electronic link between the Amman Stock Exchange and Abu Dhabi Securities Exchange.

The step reflects the level of cooperation and integration between the two sides and underscores the drive to enhance openness to regional financial markets and develop the digital infrastructure of capital markets, during which the first transaction between the two parties was executed.

Commemorative shields were exchanged and group photos were taken to mark the occasion, reaffirming the depth of the brotherly relations and the strategic partnership between the Hashemite Kingdom of Jordan and the United Arab Emirates across various economic, financial, and investment fields.

Tabadul platform

Launched by Abu Dhabi Securities Exchange in 2022, the Tabadul platform is one of the leading initiatives aimed at providing interconnectivity among member markets and facilitating mutual access for brokerage firms, enabling investors to benefit from available investment opportunities and trade across member markets with ease and efficiency within an integrated regulatory and operational framework.

Its members include Muscat Stock Exchange, Bahrain Bourse, Astana International Exchange, Kazakhstan Stock Exchange, Armenia Securities Exchange, in addition to the Amman Stock Exchange and Abu Dhabi Securities Exchange.

On December 11, 2024 in Abu Dhabi, the Amman Stock Exchange and the Securities Depository Center signed the electronic linking agreement with ADX with the aim of joining the “Tabadul” platform, which includes a group of Arab and Asian exchanges.

This contributes to strengthening joint cooperation, developing financial markets, improving their efficiency, and expanding investment opportunities for investors in both countries.