Abu Dhabi Securities Exchange has signed a collaboration agreement with Borsa Istanbul for technology and infrastructure support. Image Credit: Ahmed Kutty/Gulf News

Abu Dhabi: During the visit of the President of the Republic of Turkey, Recep Tayyip Erdoğan to the UAE on February 14, an agreement was signed between Borsa İstanbul and Abu Dhabi Securities Exchange.

The agreement was signed by the CEO Korkmaz Ergun on behalf of Borsa İstanbul and the Managing Director and CEO Saeed Al Dhaheri on behalf of Abu Dhabi Securities Exchange. Within the framework of this agreement Borsa İstanbul will provide consultancy services and implementation support to Abu Dhabi Securities Exchange in the field of Information Technologies.

“We are appreciative of the role that Borsa Istanbul will play in further developing ADX’s technological capabilities. We also look forward to exploring further areas of cooperation for the mutual benefit of our exchanges in line with the memorandum of understanding signed in November,” said Hisham Khalid Malak, Chairman of ADX.

Borsa İstanbul will provide consultancy service to Abu Dhabi Securities Exchange (ADX) in the field of Information Technologies (IT) as well as the establishment of systems, integration, updating the platform, transferring data to the new platform, application and acceptance tests, experience transfer and training.

“We are very keen on being able to transfer our knowledge and experience to other exchanges within the framework of these efforts. We will take this project as our own and work with Abu Dhabi Securities Exchange in system tests, system integration and data transfer processes in the most effective way, provide consultancy on various issues and make every effort to complete this project as a brand project of Borsa İstanbul in the best possible way,” said Korkmaz Ergun, CEO of Borsa İstanbul.