Abu Dhabi (Al Ittihad)
Kazakhstan Stock Exchange and Kazakhstan Clearing Center today announced their official accession to the digital platform “Tabadul” established by the Abu Dhabi Securities Exchange. The Kazakhstan Stock Exchange becomes the sixth member of the platform. The agreement aims to enhance joint trading between the two parties, strengthen their strategic partnership and expand cooperation opportunities between the two financial markets. Moreover, the accession of the Kazakhstan Stock Exchange to the Tabadul platform will simplify trading mechanisms and expand investment opportunities by making securities listed on both markets available for mutual trading.
ADX launched the “Tabadul” platform in July 2022, as the region’s first digital exchange center based on a mutual market access mechanism. The platform provides a digital exchange network for trading between member exchanges at the regional and global levels, and aims to enhance cooperation and increase liquidity in participating markets. The platform has witnessed the registration of more than one million investors who have the ability to trade in securities in various sectors such as banking, financial services, energy, and telecommunications.
“The accession of the Kazakhstan Stock Exchange to the Tabadul platform will expand investment opportunities for participants in the Kazakhstani financial market, help increase liquidity and the number of foreign individual and institutional investors in the Kazakhstani stock market, and provide Kazakhstani investors with the opportunity to trade foreign securities on exchanges under the umbrella of the Tabadul platform, including the Abu Dhabi Securities Exchange, the Bahrain Bourse, the Muscat Stock Exchange, the Astana International Exchange and many other international exchanges that are preparing to join the platform. Financial transactions will be settled by exchange members through the Kazakhstan Clearing Center using the Kazakhstani tenge currency,” said Alina Aldambergen, Chairman of the Board of Directors of the Kazakhstan Stock Exchange.
The completion of joining Tabadul is expected by the end of this year, after the Kazakh brokerage companies Freedom Finance Global and Halyk Finance have gained access to the platform, along with a group of other local brokers.
Abdulla Salem Al Nuaimi, Group CEO of ADX, said: “We are delighted to welcome the Kazakhstan Stock Exchange as the latest member of the Exchange. This collaboration is in line with ADX’s objectives of attracting more investments to Abu Dhabi and expanding connectivity to global markets. With the Kazakhstan Stock Exchange joining, investors can access multi-asset investment opportunities and benefit from market efficiency not only in Kazakhstan and the UAE, but also in growing markets including Oman, Bahrain and Tajikistan, thereby enhancing liquidity and increasing market efficiency. We look forward to a successful partnership with the Kazakhstan Stock Exchange and will work together to develop the Exchange as an effective hub for borderless trading.”
The “Tabadul” platform represents a step towards a sustainable economy in the future inside and outside the region, and provides investors in all participating markets with a wide range of direct trading opportunities. The platform will also be available to investors registered with qualified local brokers, provided that they meet all the requirements and conditions set by the member exchanges.
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