Astana International Exchange (AIX) has officially joined the Tabadul Digital Exchange Hub established by the Abu Dhabi Securities Exchange (ADX), allowing for bilateral cross-Exchange trading between the two entities. This collaboration enhances liquidity and streamlines trading mechanisms for investors by making AIX and ADX listed securities available for cross-trading. Tabadul facilitates remote access for brokerage firms affiliated with the exchanges, reinforcing their dedication to fostering stronger relationships and promoting collaboration. Through Tabadul, investment opportunities are expanded across member exchanges regionally and globally.
The ADX launched the Tabadul Hub in July 2022 as the first digital exchange center in the region, operating on a mutual market access model. The platform creates a digital exchange network for trading among member exchanges at the regional and global levels, ultimately aiming to enhance cooperation and increase liquidity across participating markets.
Current members of the platform include the Abu Dhabi Securities Exchange (ADX), Bahrain Bourse (BHB), and Muscat Securities Market (MSX). AIX's integration into the Tabadul Digital Exchange Hub follows a strategic partnership with ADX, as outlined in their June 2023 Memorandum of Understanding. This move expands the platform's capabilities, providing trading participants and investors with a seamless and efficient trading and settlement experience. More foreign exchanges and brokerage firms are currently in varying stages on onboarding to the Tabadul hub.
Freedom Finance Global has been recognized and onboarded as a Tabadul Hub broker from Kazakhstan, while BHM Capital has joined AIX as an ADX trading member via Tabadul. Efforts are underway to onboard additional trading participants from both sides, with ADX members initially gaining access to AIX securities denominated in USD.
Assel Mukazhanova, CEO of the AIX, noted:
“The trading partnership between ADX and AIX aligns seamlessly with the AIX’s objectives and promises to enhance cross-border market integration between Kazakhstan and GCC markets. Becoming part of the Tabadul Hub introduces fresh avenues for Kazakhstani investors enriching the array of investment instruments accessible to market participants.”
Abdulla Salem Alnuaimi, Chief Executive Officer of Abu Dhabi Securities Exchange (ADX), stated:
“We are delighted to welcome Astana International Exchange (AIX) as the newest member of the Tabadul Digital Exchange Hub. This collaboration exemplifies our ongoing commitment to expanding ADX’s network of partner exchanges, enhancing liquidity, and establishing Tabadul as a premier platform for regional and global investment.
The launch of Tabadul in 2022 was a significant milestone in fostering collaboration and increasing liquidity across markets. With AIX joining the platform, investors now have direct access to investment opportunities in both Kazakhstan and the UAE.
This marks an exciting new chapter for ADX and Tabadul, and we eagerly anticipate collaborating with AIX to boost market efficiency, drive investor participation, and strengthen global connectivity in both markets."
Sergei Lukyanov, the Chairman of the Board of Directors of Freedom Finance Global PLC, emphasized:
“This significant step is the result of bilateral cooperation under the leadership of heads of our states, for many years. The green light is given for the formation of a strong financial sector, at the global level, and I am sure that it contributes to the development of a sustainable economy of our country, both in the region and outside. As a broker, we are proud to provide investors with a wide range of direct trading opportunities on the world's largest capital markets."
Tabadul platform will be accessible to investors who have registered with eligible local brokers, provided that they meet all the requirements set by the receiving exchanges.
Reference:
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. www.aix.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan's economy. www.aifc.kz
Abu Dhabi Securities Exchange (ADX) was established on November 15, 2000, by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On March 17, 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.
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