ADX, Astana International Exchange agree on terms of collaboration

Wam file photo
Wam file photo

The two markets aim to facilitate bilateral direct market access (DMA) links between brokers, allowing AIX brokers to access ADX and vice-versa.



By WAM

Published: Fri 25 Feb 2022, 2:04 AM

Last updated: Fri 25 Feb 2022, 2:07 AM

Following the signing of the Memorandum of Understanding (MoU) in October 2021 between the Abu Dhabi Securities Exchange (ADX) and the Astana International Exchange (AIX), the two exchanges announced that officials from both financial markets met to further define the areas of mutual collaboration and target immediate next steps to achieving the goals of the MoU.

Saeed Hamad Al Dhaheri, Chief Executive Officer and Managing Director of ADX, said, “Forming alliances with exchanges in capital markets around the world is a key part of our ‘ADX One’ strategy, which we launched last year to enhance liquidity, further improve market efficiency and significantly increase market capitalisation. Our objective is to align with best international practices and make ADX a more attractive market for international investors. Through our partnership with AIX, we hope to introduce investors to new opportunities and in doing so enhance liquidity for both exchanges.”

Fostering ties between trading members of both exchanges is seen as a key priority that will help to enhance market liquidity. The two markets aim to facilitate bilateral direct market access (DMA) links between brokers, allowing AIX brokers to access ADX and vice-versa.

Establishing simplified central securities depository (CSD) links will pave the way for cross-listings of exchange-traded funds (ETFs) and fixed income securities. Additionally, collaboration in the field of Shariah-compliant exchange-traded products is also of particular interest to both exchanges.

Other areas of long-term cooperation include fintech market development opportunities, market infrastructure technology, investor awareness and employee secondment opportunities.

Renat Bekturov, Chief Executive Officer of AIX, said: "We continue to grow our international potential and expand ties with market participants demonstrating impressive development rates. I believe that collaboration with Abu Dhabi Securities Exchange will allow us to expand the capabilities of AIX and provide our customers with access to the Abu Dhabi market and vice-versa in the future, as well as contribute to further development of financial and economic ties between our countries.”


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