Today's Edition
ABU DHABI (ALETIHAD)
The Iraq Stock Exchange (ISX) has gone live on the Abu Dhabi Securities Exchange’s Tabadul platform, giving investors in both markets direct access to listed securities, ADX said on Tuesday.
ISX became the eighth market to begin trading through Tabadul, a mutual market-access platform connecting 11 exchanges. Investors in Iraq can now directly access securities listed on ADX, while investors connected to the platform can trade shares listed in Baghdad.
Tabadul allows cross-exchange trading and settlement in local currencies without requiring companies to obtain dual listings or investors to arrange separate custodianship, according to a statement from ADX.
The platform connects the financial markets of Abu Dhabi, Bahrain, Muscat, Astana, Kazakhstan, Armenia, Southern Africa and Iraq.
With the addition of ISX, the network brings together markets with a combined capitalisation exceeding $1 trillion, about 700 listed companies and more than 11 million registered investors.
“As regional economies become more connected, building direct investment channels is essential to driving sustainable growth as capital flows between leading regional markets,” said Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX.
“Bringing the Iraq Stock Exchange onto Tabadul gives investors a clear, straightforward path to trade Iraqi companies while expanding Abu Dhabi’s role as a trading centre. Strengthening the Tabadul hub supports Abu Dhabi Vision 2030 and the emirate’s long-term economic strategy by deepening market liquidity and opening new growth channels with the emirate,” he added.
Based in Baghdad, ISX traces Iraq’s stock-market history to 1939 and was established in its current form in 2004. It has expanded from 15 listed companies to 103, with a total market value of $21.7 billion as of August 2026.
The exchange lists shares, government bonds and corporate debt, providing companies with access to funding to support their expansion.
“Today’s bell ringing marks Iraq going ‘live’ on the Tabadul hub, an important milestone in strengthening cooperation and integration between the Iraqi and Abu Dhabi capital markets,” said Ali Jamal Amin, Executive Director of the Iraq Stock Exchange.
“It also opens new opportunities for cross-border connectivity and trading, supporting greater access to regional financial markets and enhancing investment opportunities for market participants,” he added.
ADX launched Tabadul in July 2022 as a digital network allowing investors to trade securities on participating international markets. Brokerage firms associated with member exchanges can obtain remote access to the platform.
Investors can use Tabadul to access companies operating across sectors including banking, finance, energy and telecommunications.
Trading value on the platform reached Dh13.5 billion during 2026, exceeding the total recorded for the whole of 2025, ADX said.
ISX introduced electronic trading in 2009 and uses Nasdaq X-Stream technology for trading and Nasdaq Equator for clearing and settlement. It is also upgrading its post-trade infrastructure through the Eclipse project.
Two Iraqi brokerage firms have already been licensed by the UAE Capital Market Authority to trade through Tabadul, according to the statement.
