|09 July, 2019

Nasdaq Dubai to form operational linkages with Kazakhstan’s AIX

The establishment of operational linkages is subject to regulatory approvals

Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

REUTERS/Stringer

UAE – Nasdaq Dubai has signed an agreement with Kazakhstan’s Astana International Exchange (AIX) with the aim to build a close operational relationship between the central securities depositories (CSDs) of both markets.

The agreement was signed by chief executive of AIX Tim Bennett and chief executive of Nasdaq Dubai Hamed Ali in the capital of Kazakhstan, Nur-Sultan, Nasdaq Dubai revealed in a press release.

The establishment of operational linkages is subject to regulatory approvals, the exchanged noted.

Tim Bennett commented: “Our agreement with Nasdaq Dubai is a significant step in the continued opening of Kazakhstan and its companies to foreign investment. Since going live in November last year, AIX has been focusing on building our reach with international investors. Our agreement with Nasdaq Dubai is a key milestone in that effort.”

In turn, Hamed Ali said: “As Kazakhstan’s dynamic companies increasingly look abroad for investment, Nasdaq Dubai can provide them with access to a large pool of international and regional investors. Our agreement with AIX promotes cross-border economic growth and wealth creation for Kazakhstan, the UAE and other countries by opening new financial channels for diverse market participants.”

Source: Mubasher

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