Abu Dhabi, United Arab Emirates (January 30, 2023): The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced today that Muscat Stock Exchange (MSX) has now 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. 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, organized by the Abu Dhabi Securities Exchange at its headquarters, to officially welcome MSX to Tabadul, in the presence of Saeed Hamad Al Dhaheri ADX's Managing Director and CEO, Shaikh Khalifa Bin Ebrahim Al Khalifa CEO of Bahrain Bourse Haitham Salim Al Salmi CEO of Muscat Stock Exchange, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the UAE Securities and Commodities Authority (SCA).
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 the UAE President, His Highness Sheikh Mohamed Bin Zayed Al Nahyan to the Sultanate of Oman.
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX said: “We are pleased that the Muscat Stock Exchange has joined the Tabadul platform. This move, in line with Abu Dhabi's economic diversification ambitions, will contribute to sustainable growth in financial markets by expanding the investor base and meeting their investment ambitions. Today, we are witnessing a milestone that underscores our commitment to expand regional relationships and foster collaboration and connectivity between the region's markets. Our aim is to enhance liquidity, facilitate trading and deepen the overall capital markets."
He added: “We look forward to working closely with our partners at BHB and MSX to expand investment tools and to add additional financial markets under the Tabadul platform, allowing the region's capital markets to grow and complement each other's financial ecosystems."
Shaikh Khalifa Bin Ebrahim Al Khalifa Chief Executive Officer of Bahrain Bourse 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."
Haitham Salim Al Salmi CEO of Muscat Stock Exchange, commented on this saying, “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 cooperation between the Muscat Stock Exchange (MSX), the Abu Dhabi Securities Exchange (ADX) and the Bahrain Bourse, 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 cooperation avenues and increase liquidity in the two markets, including cross-market trading.
Tabadul is a regional platform that aims to provide a digital network for trading between stock exchanges regionally and internationally, as well as pave the way for a sustainable future economy for the region and beyond. 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 fulfill their interests, which is critical to accelerating the economic growth process in member countries.