Abu Dhabi bourse, CASE join hands to boost cooperation

Abu Dhabi Securities Exchange (ADX) has signed an agreement with the Central Asian Stock Exchange (CASE) for the inclusion of the Tajikistani exchange as the fifth member of the Tabadul Digital Exchange Hub.

ADX said the go-live implementation is expected to take place early next year and once operational, investors will gain the ability to directly trade on both exchanges through licenced brokers.

“The agreement with CASE reaffirms ADX’s commitment to enhancing global market integration and fostering long-term mutually beneficial relations with financial markets. Like the local and regional market participants, we look forward to CASE being operational on the Tabadul platform in 2024,” said Abdulla Salem Alnuaimi, the CEO of ADX.

The addition of CASE to Tabadul, with the current members including Bahrain Bourse, Muscat Securities Market and Astana International Exchange, marks the expansion of the platform’s capabilities and investment opportunities at the regional and global levels.

The Abu Dhabi bourse launched Tabadul Hub in July 2022 as the first digital exchange centre in the GCC region.

The platform is based on the mutual market access model and 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.

Abu Dhabi exchange bolsters bilateral ties

Meanwhile, the partnership between the Abu Dhabi bourse and CASE comes days after the pact between Shenzhen Stock Exchange and ADX to promote cross-border investment and listings, the latest in a flurry of cooperation between stock markets in GCC countries and China.

The pact between the Shenzhen exchange and ADX focuses on bolstering cross-border index and exchange-traded funds (ETF) cooperation, as well as exploring international financing opportunities.

The deal is expected to provide a robust platform for financial growth and connectivity between the UAE and China.

ADX said the pact is part of its broader strategy to bolster bilateral ties with leading global financial institutions, including the recent agreement with the New York Stock Exchange (NYSE).

Earlier in November, the Abu Dhabi bourse signed an MoU with the NYSE in November to collaborate on several key business activities, including the dual listing of companies on both exchanges.

The two exchanges will explore opportunities to develop ETFs and data and index products, as well as collaborate on sustainability-related initiatives.

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