ABU DHABI (ALETIHAD)
Jordan’s capital market institutions, in cooperation with Abu Dhabi Securities Exchange Group, officially launched the electronic link between the Amman Stock Exchange and Abu Dhabi Securities Exchange through the Tabadul platform.
The launch took place during an official ceremony held at the InterContinental Hotel in Amman. The event was attended by
Ghannam Al Mazrouei, Chairman of ADX; Abdullah Salem Al Nuaimi, Group Chief Executive Officer of ADX; Emad Abu Haltem, Chairman of the Board of Commissioners of the Jordan Securities Commission; Mazen Al Wathaifi, Chief Executive Officer of the Amman Stock Exchange; and Sara Al Tarawneh, Chief Executive Officer of the Securities Depository Centre.
Several Jordanian bank executives, brokerage firms, representatives of capital market institutions and members of the media also attended the ceremony.
The activation of the electronic link is part of efforts to strengthen cooperation between the Hashemite Kingdom of Jordan and the UAE, develop regional financial markets and enhance their integration.
The link is expected to broaden the investor base and increase access to financial markets through cross-market trading between the two exchanges via brokerage firms.
Emad Abu Haltem, Chairman of the Jordan Securities Commission, said activating the electronic link between the two markets represents an important strategic step towards strengthening integration among Arab financial markets.
He said that, in line with the directions of the two governments and reflecting the strategic and economic ties between the two countries, the project with ADX will enhance liquidity, improve market efficiency and provide broader investment opportunities for investors in both countries.
Abdullah Salem Al Nuaimi, Group Chief Executive Officer of ADX, said the Tabadul platform represents an advanced model of integration among financial markets.
He said the platform facilitates access for investors and brokerage firms to member markets within a secure and sophisticated trading environment, enhancing the attractiveness of the region’s financial markets.
Mazen Al Wathaifi, Chief Executive Officer of the Amman Stock Exchange, said activating the electronic link with ADX falls within the strategic partnership between the two countries and their joint economic cooperation in a way that serves their mutual interests.
He said the step supports the exchange’s strategic objectives by strengthening openness to regional and global financial markets, promoting the exchange of expertise, and enhancing market liquidity and depth by facilitating the flow of Arab and foreign investments into the market.
Sara Al Tarawneh, Chief Executive Officer of the Securities Depository Centre, said activating the agreement enables investors to trade between the two markets with ease and efficiency within a fully integrated legal and regulatory framework.
She said it also ensures that settlement, clearing, and pre- and post-trade services are carried out with high levels of accuracy and reliability.
The ceremony featured a presentation on the Tabadul platform and how it operates. On the sidelines of the launch event, the opening bell was rung to mark the official commencement of the electronic link between the Amman Stock Exchange and ADX. The first transaction between the two parties was also executed during the event.
At the conclusion of the ceremony, commemorative shields were exchanged and group photos were taken to mark the occasion, reaffirming the relations and strategic partnership between Jordan and the UAE across economic, financial and investment fields.
Launched by ADX in 2022, the Tabadul platform aims to provide interconnectivity among member markets and facilitating mutual access for brokerage firms. It enables investors to benefit from available investment opportunities and trade across member markets with ease and efficiency within an integrated regulatory and operational framework.
Its members include Muscat Stock Exchange, Bahrain Bourse, Astana International Exchange, Kazakhstan Stock Exchange and Armenia Securities Exchange, in addition to the Amman Stock Exchange and Abu Dhabi Securities Exchange.
On December 11, 2024, the Amman Stock Exchange and the Securities Depository Centre signed an electronic linking agreement with ADX in Abu Dhabi with the aim of joining the Tabadul platform, which includes a group of Arab and Asian exchanges.
The agreement contributes to strengthening cooperation, developing financial markets, improving their efficiency and expanding investment opportunities for investors in both countries.