Abu Dhabi and Turkey stock exchanges in cross-listing deal
In the presence of Mohamed bin Zayed, ADX has signed a partnership agreement with Borsa Istanbul to further advance financial services in the UAE and Turkey. Image Credit: Twitter/@admediaoffice

Dubai: The Abu Dhabi Securities Exchange (ADX) and Borsa Istanbul (BIST) have struck a pact that will see the stock market heavyweights work on cross-listing possibilities.

With the new agreement, ADX and BIST will collaborate and share information on:

  • Rules and regulations;
  • Product development;
  • Risk management; and
  • Market infrastructure.

Cross-listing chances

They will also explore the possibility of linking their central securities depositories (CSD) to support potential cross listings and facilitate trading on one another’s exchange. “We a have identified a number of areas where we can collaborate and share knowledge to strengthen both of our trading platforms,” said Saeed Hamad Al Dhaheri, CEO of ADX. “This partnership, and others like it, form a key part of our ‘ADX One’ strategy, which aims to increase liquidity, further improve market efficiency and support the long-term sustainable growth of our market.”

ADX One strategy

This MOU is the latest in a series of strategic partnership agreements signed by ADX with exchanges, including Tel Aviv Stock Exchange, Bahrain Bourse and Astana International Exchange. The ADX One strategy was launched by ADX at the beginning of this year to enhance liquidity, improve market efficiency and significantly increase market capitalisation.