Abu Dhabi Securities Market and Kazakhstan Stock Exchange sign partnership agreement to enhance joint trading. Here are the details.
I announced Kazakhstan Stock Exchange The Kazakhstan Clearing House, on Wednesday, officially announced their joining of the digital “Tabadul” platform founded by Abu Dhabi Securities Market, thus becoming the sixth member of the platform.
And it happened Abu Dhabi Securities Market The Kazakhstan Stock Exchange signed a partnership agreement to enhance the strategic partnership and expand cooperation opportunities between the two markets, in addition to enhancing joint trading, which will simplify mechanisms and expand investment opportunities by making listed securities available for trading between the two sides.
“Tabadul” platform paves the way for digital trading between stock exchanges
In July 2022, it was Abu Dhabi Securities Market, has launched the “Tabadul” platform, to be the first digital exchange center in the region based on a mechanism of mutual access to markets.
The platform provides a digital exchange network for trading between member exchanges regionally and globally, and enhances cooperation and increases liquidity in participating markets.
The platform has registered more than one million investors who have the ability to trade in securities in various sectors such as banking, financial services, energy, and communications.
Kazakhstan Stock Exchange joins Tabadul platform
Alina Aldambergen, Chairman of the Board of Directors of the Kazakhstan Stock Exchange, said that the accession of the Kazakhstan Stock Exchange to “Tabadul” expands investment opportunities for participants in the Kazakh financial market, increases liquidity, and the number of foreign individual and institutional investors in the Kazakh stock market.
She added: “Kazakh investors also have the opportunity to trade foreign securities on the exchanges listed on Tabadul, including the Abu Dhabi Securities Market, the Bahrain Bourse, the Muscat Stock Exchange, and the Astana International Exchange.”
Financial transactions will be settled through the Kazakhstan Clearing Center using the Kazakhstani tenge currency.
Completion of joining “Tabadul” by the end of 2024
The integration into the “Tabadul” platform is expected to be completed by the end of this year, after the Kazakh brokerage companies “Freedom Finance Global” and “Halyk Finance” gained access to the platform, in addition to a group of other local brokers.
Abu Dhabi market aims to attract more investments
Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange Group, said that the cooperation is in line with the market’s objectives to attract more investments and expand the scope of communication with global markets.
He added that the accession of the Kazakhstan Stock Exchange enables investors to access multi-asset investment opportunities and benefit from market efficiency in Kazakhstan, the UAE, Oman, Bahrain and Tajikistan, which enhances liquidity and increases market efficiency.
It is worth noting that the “Tabadul” platform is a step towards a sustainable economy in the future inside and outside the region, by providing investors in all participating markets with a wide range of direct trading opportunities.
