Abu Dhabi: Abu Dhabi Securities Exchange (ADX) announced today that it has signed an agreement with Astana International Exchange (AIX) for the inclusion of AIX as the fourth member of the Tabadul Digital Exchange Hub. Other members of Tabadul include Bahrain Bourse (BHB) and Muscat Securities Market (MSX).
ADX launched Tabadul Hub in July 2022 as the first digital exchange center in the region. Tabadul is based on the mutual market access model. It provides a digital exchange network for trading between member exchanges at the regional and global levels. Tabadul aims to improve cooperation and increase liquidity in the participating markets, by enabling trading across the markets.
The Agreement will enable remote access for the exchanges’ respective brokerage companies through Tabadul, solidifying their commitment to expand bilateral relations and enhance cooperation. Tabadul will allow investments across ADX and AIX, as well as enable investors to trade directly through licensed brokers in both markets, as is currently the case with the other exchange members of Tabadul.
The launch follows both exchanges’ earlier strategic partnership to implement the collaboration plans outlined in the Memorandum of Understanding, which they signed in October 2021. With AIX now joining the Tabadul Digital Exchange Hub, the scope and capabilities of the platform will be further expanded, offering a seamless and efficient trading experience for investors.
Abdulla Salem Alnuaimi, Chief Executive Officer, ADX, said: “The signing of this agreement with AIX reaffirms ADX’s commitment to establishing a regional and global network for knowledge and information sharing through Tabadul, which is intended to bolster liquidity and mutual long-term economic growth with our partners. Our partnership with AIX reinforces our commitment to driving market connectivity and transforming trading. This marks the beginning of an exciting new chapter, and we are determined to enhance market efficiency, and foster economic growth on a global scale.”
Assel Mukazhanova, Acting Chief Executive Officer, AIX, said: “One of the strategic goals of the AIX is to facilitate the incorporation of international expertise and the international stock market culture to Kazakhstan and bring offshore investors to the market. In turn, it shall also open up new opportunities for the Kazakhstani investors and broaden the range of instruments available to the market participants: retail investors will be able to trade directly through the licensed brokerage houses in both markets. The trading network between ADX and AIX fits well with the AIX targets and shall add to expanding the boundaries between the KZ and GCC markets.”
Tabadul platform will be accessible to investors who have registered with eligible local brokers, provided that they meet all the requirements set by their local exchanges.
Securities on Tabadul will be traded in the local currency of the respective exchange, and in some cases in the specified currency of traded asset, with no minimum amount required for orders.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. https://aifc.kz/
About Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance, and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified, and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.
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