Senior executives of Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) have held meetings in Abu Dhabi this week to talk about a strategic partnership. Such a tie-up is designed to achieve greater cross-border cooperation.
During the visit by a delegation of the Bahrain Bourse to ADX, the two exchanges took steps to implement the cooperation agreement signed in November 2021.
The agreement aims to achieve synergies, enhance market liquidity and promote innovative products and services, officials said.
Managing Director and CEO of ADX, Saeed Hamad Al Dhaheri (below), said: “This strategic partnership between ADX and Bahrain Bourse supports the close economic relationship between the UAE and the Kingdom of Bahrain, and highlights the central role that capital market development plays in regional growth.”
He added that both exchanges are making strong progress in the implementation of an action plan that will provide a significant opportunity to issuers and regional and global investors.
“We hope that this partnership will serve as a template for broader relationships with a number of regional exchanges in the coming years.”
CEO of Bahrain Bourse and Vice Chairman and Managing Director of Bahrain Clear, Sheikh Khalifa bin Ebrahim Al-Khalifa (below), said Bahrain Bourse and ADX are making strong progress on a range of strategic initiatives that support the further growth and diversification of the regional economy.
“We aim to ensure that our capital markets continue to support the development of an increasingly dynamic corporate landscape while offering investors easy, cost-efficient access to a wider range of opportunities to participate in growth. We look forward to launching these initiatives later this year,” he added.
Earlier this week, ADX has announced that it is making access easier to its exchange for investors registered on other UAE financial markets.
The ADX initiative applies to investors with investor numbers issued by other exchanges licenced by the Securities and Commodities Authority (SCA).
The move, which promotes increased participation in the country’s capital markets, allows investors with a National Investor Number (NIN) issued by other exchanges to trade eligible securities on ADX through a straightforward application process.
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