STOCK ADX NEW   Abu Dhabi Securities Exchange
MSX will be joining the “Tabadul” platform, which was created by ADX in collaboration with Bahrain Bourse (BHB) to connect regional exchanges Image Credit: Abu Dhabi Securities Exchange

Abu Dhabi: The Abu Dhabi Securities Exchange (ADX) and the Muscat Securities Market (MSX) struck a deal to increase collaboration in a wide range of areas to serve their common interests.

The MoU aims to enhance bilateral cooperation and information sharing in a number of areas, including advisory services, training, development of systems, and promotion of integration. It also provides a channel of direct communication between the two parties, for the exchange of legal and technical information, sustainability and ESG.

“The MoU reaffirms both Abu Dhabi’s and ADX’s commitment to establishing a regional network for knowledge and information sharing which is intended to bolster liquidity and mutual long-term economic growth with our regional partners,” said Saeed Hamad Al Dhaheri, MD and CEO of Abu Dhabi Securities Exchange. The signing of the MoU between ADX and MSX aims to further develop the investment and capital markets landscape between the two countries by adopting the highest standards of regulatory best practices in both markets.”

MSX will be joining the “Tabadul” platform, which was created by ADX in collaboration with Bahrain Bourse (BHB) to connect regional exchanges. Established on the mutual market access model, Tabadul enables investors to trade directly on the onboarded exchange through local authorized brokers. Securities listed on MSE will therefore be available for trading on the platform along with securities listed on ADX and BHB, in a step that will build regional partnerships, increase liquidity and drive sustainable growth in stock markets in the region.

On this occasion, Haitham bin Salem Al Salmi, CEO of the Muscat Stock Exchange (MSX) and Chairman of the Board of Directors of the Muscat Clearing and Depository Company (MCD) said: that the MoU will open ways to create many investment opportunities for all investors, support economic development, benefit from the experience of ADX and strengthen brotherly relations between the two countries.

Dual listing

ADX also signed a separate agreement with MSX to promote cooperation on dual listing of securities across the two markets. The agreement sets out the legal foundations for such transactions and unifies the required operational, administrative and technical procedures to achieve effective cooperation and coordination.

ADX signed a memorandum of cooperation with the Muscat Clearing & Depository Company. S.A.O.C. (MCD) for dual listing of securities on both markets and to further develop clearing and central depository functions in the two markets.

MSX appoints financial advisors
MSX is teaming up with the UAE-based Al Ramz Corporation Investment and Development and Oman-based Ubhar Capital to formulate capital markets initiatives in the Sultanate of Oman.

MSX, Al Ramz Corporation, and U Capital will devise plans aimed at improving the participation of Oman’s capital markets, propelling economic development in line with Oman Vision 2040.