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Abu Dhabi, January 30 / The Abu Dhabi Securities Market and the Bahrain Bourse announced today that the Muscat Stock Exchange has joined the “Tabadul” platform, the first of its kind in the region based on the concept of providing direct access to markets through a regional trading network between stock exchanges, in a quantum leap that enhances liquidity and facilitates Trading mechanisms for investors.
The securities listed on the Omani market became available for digital trading via the platform, along with the securities in the Abu Dhabi and Bahrain markets, in an innovative step that strengthens the linking of financial markets in the region, increases liquidity levels in financial markets, and creates sustainable investment opportunities.
This came during the ringing of the trading opening bell ceremony organized by the Abu Dhabi Securities Market at its headquarters to announce the official accession of the Muscat Stock Exchange to the exchange platform, in the presence of Saeed Hamad Al Dhaheri, Managing Director and CEO of the Abu Dhabi Securities Market, and Sheikh Khalifa bin Ibrahim Al Khalifa, CEO. of the Bahrain Stock Exchange, Haitham Al-Salmi, CEO of the Muscat Stock Exchange, and Dr. Maryam Butti Al-Suwaidi, CEO of the Emirates Securities and Commodities Authority.
In September 2022, the Abu Dhabi Securities Market signed a memorandum of understanding with the Muscat Stock Exchange aimed at strengthening bilateral cooperation relations between the two parties related to the exchange of experiences, information, advisory services, training, facilitating the entry of “brokers” members, developing systems, and promoting integration, on the sidelines of His Highness’s visit. Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” to the Sultanate of Oman.
In this context, Saeed Al Dhaheri, Managing Director and CEO of the Abu Dhabi Securities Exchange, said: “We are pleased today to join the Muscat Stock Exchange to the exchange platform. This step comes in line with the aspirations of economic diversification of the Emirate of Abu Dhabi towards contributing to the sustainable growth of financial markets by expanding the investor base and meeting Today, we are witnessing a distinguished event that reflects our commitment to expanding the scope of regional partnerships and enhancing levels of cooperation between the region’s markets by linking the capital markets, as we aim to enhance liquidity levels, facilitate trading and deepen the capital market.”
He added, “We look forward to working closely with our partners in the Bahrain Bourse and the Muscat Stock Exchange to diversify investment tools and include more capital markets on the platform, which enables the growth of capital markets in the region and consolidates complementary investment links.”
For his part, Haitham Al-Salmi, CEO of the Muscat Stock Exchange, said: “The accession of the Muscat Stock Exchange to the exchange platform is one of the most important steps that we are working on as part of our ambitious strategy to enhance market liquidity and provide various options for investors. The exchange’s accession to the “Tabadul” will also be reflected in enhancing the levels of cooperation between the exchange Muscat, the Abu Dhabi Financial Market and the Bahrain Stock Exchange, which will be translated into strengthening partnerships and driving the sustainable growth of the Gulf financial markets.”
Shaikh Khalifa bin Ebrahim Al Khalifa, CEO of the Bahrain Bourse, said: “We are pleased to welcome the Muscat Stock Exchange to the exchange platform, as this platform is an important step towards further enhancing the competitiveness of the financial market in the region by linking the markets together, and it also aims to provide more investment options for investors.” Especially with the increasing interest of institutional investors globally, we look forward to working closely together to include more markets for the exchange platform in order to develop the platform and support the sustainable growth of markets in the region.”
In July 2022, the Abu Dhabi Securities Exchange and the Bahrain Stock Exchange announced the launch of the “Tabadul” platform, based on the strategic partnership agreement signed by the two parties in November 2021 to enhance aspects of cooperation between them and make a quantum leap aimed at enhancing liquidity in the three markets, including cross-market trading. .
The “exchange” is a major regional platform that aims to provide a digital network for trading between stock exchanges regionally and internationally, and to pave the way for a sustainable future economy for the region and beyond, by providing a wide range of trading opportunities for investors directly and easily in the three markets, and connecting investors through local brokers, allowing for their development. Achieving their interests, which have an important role in enhancing the process of economic growth in the Member States.
