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Wed 31 Jan 2007 03:08 PM

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Abu Dhabi-Singapore market exchange

The ADSM and Singapore's SGX are discussing cross-border trading and clearing agreements.

Abu Dhabi and Singapore are to collaborate on fostering links between their respective stock markets which could see cross-border trading and clearing between the two.

The Abu Dhabi Securities Market (ADSM) and Singapore Exchange Limited (SGX) have signed a “memorandum of understanding” to collaborate, with the key initiative to explore cross border trading and clearing.

Both will start sharing information on the operational framework of their respective securities markets. Other areas of co-operation include investor education and a staff exchange programme.

“We expect this collaboration to encourage increased trading activity from international investors, with greater interest from institutional investors and more foreign companies looking to list. All of this will give investors more opportunity to diversify their risks,” said Mr Rashed Al Baloushi, Acting Director General of ADSM in a statement.

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