Abu Dhabi Securities Exchange signs MoU with Armenia Securities Exchange
ABU DHABI, 14th August, 2024 (WAM) – Abu Dhabi Securities Exchange (ADX) announced today that it has signed a memorandum of understanding (MoU) 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,'' said Hayk Yeganyan, CEO of Armenia Securities Exchange (AMX).
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.''
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.
