Manama, November 10 (BNA) Within the framework of the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the United Arab Emirates, several cooperation agreements were signed between the Kingdom of Bahrain and the United Arab Emirates. A strategic partnership between Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB).
The partnership aims to achieve synergies and increase cross-border cooperation to enhance market liquidity, including direct market access and the issuance of exchange-traded funds (ETFs).
They agreed on a strategic plan to implement new measures over the next nine months to strengthen relations between investors residing in both countries, and to enable smooth placement of purchase orders in both stock exchanges, while reducing transaction costs and enhancing liquidity. The Abu Dhabi Securities Exchange and Bahrain Bourse have agreed to implement several products and services including ETFs, smart order routing, as well as direct cross-border trading to promote the issuance of low-cost investment vehicles in the stock market.
Bahrain Bourse is pleased to establish close cooperation relations with the Abu Dhabi Securities Exchange. Companies listed on the Bahrain Bourse represent a diverse range of industries and provide unparalleled and unique growth opportunities. Our partnership with ADX will attract new investors and promote healthy listing deals. Abdul Karim Ahmed Bucheery, Chairman of BHB and Chairman of the Board of Directors of Bahrain Clear, Abdul Karim Ahmed Bucheery, said that the cooperation between Bahrain Bourse and Bahrain Clear with the Abu Dhabi Stock Exchange will also support the growth of capital markets in the region and support the diversification of the economies of the Gulf Cooperation Council countries. .
The alliance between the Abu Dhabi Securities Exchange and Bahrain Bourse will strengthen the relationship between the UAE and Bahrain, as well as highlight the high growth opportunities that companies listed on the Abu Dhabi Securities Exchange and Bahrain Bourse have to offer to international investors. Mohammed Ali Al-Sharfa Al Hammadi, Chairman of the Abu Dhabi Securities Exchange, said that the meetings aim to deepen those relations and encourage capital market activity, which will bring tangible benefits to the economies of the United Arab Emirates and the Kingdom of Bahrain.
This strategic collaboration follows our innovative approach to expanding investment opportunities across borders. We aim to develop a seamless offering for investors, providing enhanced access with efficient workflow unmatched in both markets while reducing transaction costs and enhancing market liquidity. Innovation is at the heart of our collaboration, in line with our mandate to develop the Middle East capital market ecosystem, thus we also aim to promote ETF listings, enable CSD integration in both markets, and automate intelligent order routing systems. “This partnership will enable us to lay the blueprint for future regional cooperation and harness each other’s capabilities,” said Sheikh Khalifa bin Ibrahim Al Khalifa, CEO of BHB, Vice Chairman and Managing Director of Bahrain Clear, Sheikh Khalifa bin Ibrahim Al Khalifa.
Saeed Hamad Al Dhaheri, CEO of the Abu Dhabi Securities Exchange commented: “Discussions between the Abu Dhabi Securities Exchange and Bahrain Bourse focused on how to expand market integration and move forward on joint initiatives such as dual listings, ETFs and market access, which in turn will enhance liquidity in both securities. . markets. Technology and innovation are at the core of ADX’s growth strategy, and we look forward to deepening our partnership with other leading regional and global exchanges to deliver mutually beneficial results.”
As part of ADX’s growth strategy announced at the beginning of the year, the exchange is working on partnerships with global exchanges, offering a wide range of products and services to the market, and investing in state-of-the-art infrastructure.
MI