ADX and AMX will collaborate to exchange best practices to elevate operational efficiency, technical infrastructure, and trading and post trading technologies.
Abu Dhabi, United Arab Emirates, 13 August 2024: Abu Dhabi Securities Exchange (ADX), one of the fastest growing exchanges in the world, announced today that it has signed a memorandum of understanding with the Armenia Securities Exchange (AMX), based in Yerevan, Armenia, to collaborate on a number of key initiatives.
The MoU highlights the commitment of the exchanges to strengthen the ties between both capital markets and to cooperate on initiatives that serve to foster greater trading and investment opportunities in both economies. Under this MoU, ADX and AMX can explore and cooperate on areas including technology, sharing of best trading practices, educational initiatives and training for investors, promoting market development and innovation.
The MoU will also pave the way for the inclusion of AMX as a member of the Tabadul Digital Exchange Hub, the region’s first digital exchange platform based on mutual market access, enhancing connectivity and opening new avenues for cross-border investment opportunities.
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: “Our agreement with the Armenia Securities Exchange marks a significant milestone on our journey to boost global connectivity and drive the exchange of information among ADX and other global markets. This collaboration extends our presence into West Asia, in line with our objectives to increase cross-border market activity and unlock further opportunities for investors. We look forward to welcoming AMX to our growing network of exchanges on the Tabadul digital hub. Tabadul provides investors a new investment gateway and an invaluable platform that offers seamless access to new growth markets and the investment options in good performing listed companies. In addition, we welcome Armenian investors to better understand ADX’s marketplace and to tap on the success and growth of ADX listed companies.”
“The Abu Dhabi Securities Exchange is one of the largest in the Middle East and has recently launched a new platform, Tabadul, designed for exchange member brokers. This platform enables brokers to trade across connected exchanges, granting them easy access to foreign exchange instruments without the need to open accounts abroad. Additionally, the platform will enhance the visibility of Armenian securities, particularly government bonds, to Middle Eastern investors, thereby attracting foreign investment. We are currently working to overcome the legal and technical challenges necessary to join the platform. By signing this MoU, we are taking a significant step toward becoming a bridge between the Middle East and Europe, which will help bring more investments to our region,” said Hayk Yeganyan, CEO of Armenia Securities Exchange (AMX).
The MoU is expected to strengthen cross-border market activity between the two markets and contribute to the growth of the securities market in both the United Arab Emirates and the Republic of Armenia.
Abu Dhabi Securities Exchange (ADX) is the second largest market in the Arab region. ADX provides a wide range of products and services, including trading in stocks, bonds, exchange-traded funds (ETFs), derivatives and other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is among the top seven exchanges in the world in terms of the volume of funds raised through IPO. The exchange hosted three of the twenty largest IPOs in the world in 2023.
