Muscat Stock Exchange (MSX) has joined the Tabadul platform, the region’s first digital exchange hub, established on the mutual market access model that provides a trading network between stock exchanges regionally, the Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced yesterday.
As a result, MSX’s listed securities, along with those of ADX and BHB, are now available for digital trading, further enhancing liquidity and facilitating trading mechanisms for investors.
The announcement came during a bell ringing ceremony, organised by the Abu Dhabi Securities Exchange at its headquarters, to officially welcome MSX to Tabadul, in the presence of ADX managing director and chief exective Saeed Al Dhaheri, BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa, Muscat Stock Exchange chief executive Haitham Al Salmi and UAE Securities and Commodities Authority (SCA) chief executive Dr Maryam Al Suwaidi.
Shaikh Khalifa commented: “We are pleased to welcome Muscat Stock Exchange to the Tabadul platform. The platform is a major step towards enhancing capital market competitiveness in the region, as it links markets together and seeks to provide more investment options for investors, given the increased appetite of international institutional investors. We look forward to onboarding other markets on Tabadul to further develop the platform and support sustained growth of markets.”
In September 2022, ADX and MSX signed a memorandum of understanding (MoU) to strengthen bilateral collaboration in areas related to exchange of expertise, information, and advisory services, as well as training, facilitating the entry of broker members, developing systems, and enhancing integration.
The MoU was signed on the sidelines of the visit of UAE President Shaikh Mohammed bin Zayed Al Nahyan to Oman.
Mr Al Salmi commented: “Muscat Stock Exchange’s accession to the Tabadul platform is a major step in our ambitious strategy to contribute to the market liquidity and provide varied options for investors. The accession to Tabadul platform will also be reflected in the enhanced level of co-operation between MSX, the ADX and BHB, which will strengthen partnerships and drive to sustainable growth.”
ADX and BHB launched Tabadul in July 2022 following a strategic partnership agreement signed in November 2021 that aimed to improve co-operation avenues and increase liquidity in the two markets, including cross-market trading.
The platform also offers a wide range of trading opportunities for investors in all three current markets directly and easily, as well as connecting investors through local intermediaries, allowing them to develop and fulfil their interests, which is critical to accelerating the economic growth process in member countries.
&uuid=(email))