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ADX, Uzbekistan’s RSE sign MoU for collaboration

ADX, Uzbekistan’s RSE sign MoU for collaboration
22 Apr 2024 16:26

ABU DHABI (WAM)


Abu Dhabi Securities Exchange (ADX) announced on Monday that it has signed a Memorandum of Understanding (MoU) with the Republican Stock Exchange “Toshkent” (RSE), based in Tashkent, Uzbekistan, to collaborate on a number of key initiatives.

The MoU will pave the way for the inclusion of RSE as the fifth member of the Tabadul Digital Exchange Hub, the region’s first digital exchange centre based on mutual market access, enhancing connectivity and opening new avenues for cross-border investment opportunities. The MoU underscores the commitment of both exchanges to enhance the global securities market through cooperation and shared expertise, emphasising the importance of collaboration for the effective development of market economies in both countries.

Under the terms of the MoU, ADX and RSE will collaborate to enhance their respective electronic trading and post-trading environments, share modern trading methods and technologies, and support each other in conducting educational and training programs aimed at fostering market growth and innovation.

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said, “This Understanding with the Republican Stock Exchange serves as new milestone in our ongoing efforts to augment global connectivity and foster information exchange among diverse markets. This partnership expands our reach into Central Asia, aligning perfectly with our goals of increasing cross-border market efficiency and liquidity. We look forward to welcoming and adding RSE into the Tabadul platform in the near future. Together with the members of the Tabadul Hub, we aim to provide our investors with more access to international markets and innovative solutions to expand their portfolios, thus reinforcing our position as a leading institution driving growth in the global marketplace.”

Giorgi Paresishvili, Chairman of the Board at RSE, said, “We are very excited to have signed MOU with the Abu Dhabi Securities Exchange, which paves the way for further collaboration between our exchanges. ADX’s Tabadul initiative is about mutual recognition of member-brokers and enabling cross-border trading and settlement of securities in various markets across the Middle East and Central Asia. Tabadul initiative bodes well for our strategy of enabling foreign investors’ easy access to Uzbek capital market and vice versa.”

The MoU is expected to strengthen cross-border market activity between the two countries and contribute to the growth of the securities market in both the United Arab Emirates and the Republic of Uzbekistan.

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