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Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced the launch of the region’s first digital exchange hub – Tabadul, with an official bell ringing ceremony live streamed from BHB and the ADX headquarters.
Hisham Malak, Chairman of ADX, rang the market opening bell at Abu Dhabi Securities Exchange and Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy, rang the market opening bell at Bahrain Bourse with the attendance of Zayed bin Rashid Al Zayani, the Minister of Industry and Commerce & Minister in Charge of Bahrain Bourse, and Rasheed Mohammed Al Maraj, the Governor of the Central Bank of Bahrain, along with the Board of Directors and Executive Management of both exchanges.
Tabadul was the result of the signed strategic partnership agreement in November 2021 between ADX and BHB to implement a cross-border plan in trading and post-trading environments. Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors to trade directly on both exchanges through licensed brokers in both markets.
ADX has 20,000 registered Bahraini investors with a total trading value (Buy + Sell), of Dh1.3 billion and the trading volume (Buy + Sell) of 320 million shares in 2021. The launch of Tabadul promises to further increase these numbers.
Tabadul will be accessible to all investors who have registered with eligible local brokers and filled out the requisite KYC documents required by the local exchange in their country of residence.
Securities on Tabadul are traded in the respective exchange’s local currency, and in the specified currency of the traded asset for some cases, with no minimum amount required for orders. Investors can trade on-boarded exchanges during the designated days and trading hours.
All investors must follow the respective capital markets official holidays and trading hours to trade securities accordingly. — Wam
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