Abu Dhabi, 6 July 2022:
Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB)announced the launch of the region’s first digital exchange hub – Tabadul.The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official bell ringing ceremony live streamed from BHB and the ADX headquarters. HE Hisham Malak, Chairman of Abu Dhabi Securities Exchange (ADX),rang the market opening bell atAbu Dhabi Securities Exchange and the Minister of Finance and National Economy, HE Shaikh Salman bin Khalifa Al-Khalifa, rang the market opening bell at Bahrain Boursewith the attendance of theMinister of Industry and Commerce& Minister in Charge of Bahrain Bourse, HEZayed bin Rashid Al Zayani,and the Governor of the Central Bank of Bahrain, HE Rasheed Mohammed Al Maraj, 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 Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (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.
During a welcoming speech, theMinister of Finance and National Economy of Bahrain, HE Shaikh Salman bin Khalifa Al-Khalifasaid, “Capital markets play a vital role in accelerating the development of the economy, and today we witness a remarkable launch as a result of the strategic cooperation between the Kingdom of Bahrain and the UAE, which witnesses advanced growth in line with His Majesty King Hamad bin Isa Al Khalifa and the HH Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE’s ongoing support. We are keen to enhance the investment environment in both countries by exploring new ways of cooperation within the capital market ecosystem to further support the local economy.”
Speaking on the occasion, HE Hisham Malak, Chairman of Abu Dhabi Securities Exchangenoted,“Our pioneering leaders long-standing vision has been to create a network of exchanges in the region to ensure market liquidity and lasting financial prosperity. This vision has become a reality today with the launch ofTabadul under the leadership of Abu Dhabi Securities Exchange in collaboration with Bahrain Bourse.The partnership highlights the central role that capital market development plays in regional growth.
“The launch of Tabadul reflects on the Emirate’s commitment to have closer economic ties with nations in the region and enhance market liquidity. It is a step forward in enhancing cooperation between UAE and Bahrain and will further bring economic prosperity to both nations. This new milestone will contribute to the economic growth of the Emirate of Abu Dhabi through accelerating economic diversification and enhancing its financial services sector, attractinga wider range ofinvestors and issuers from around the worldcreating a dynamic capital market environment.”
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, commented:“Broadening regional partnerships is a core element of ADX One strategy aiming to increase liquidity, enhance market efficiency, and drive the sustainable growth of the exchange. The launch of Tabadulis a testament to our commitment to the strategy and to beingthe market of choice for issuers and investors.Tabadul will strengthen ties between regional exchanges, and expand investment opportunities for investors. We look forward to working closely with our partners Bahrain Bourse to further enhance our offering and onboard more capital markets to the hub, enabling the growth of capital markets in the region and supporting the diversification of GCC economies.”
Bahrain Bourse’s Chief Executive Officer and Vice Chairman and Managing Director of Bahrain Clear, Shaikh Khalifa Bin Ebrahim Al Khalifa commented: “The launch of Tabadul is a culmination of BHB and ADX efforts during the past eight months, which reflects upon BHB’s commitment to enhance coordination with GCC Bourses in line with the Financial Services Sector Development Strategy of the Economic Recovery Plan that prioritises capital market development.”
“The launch of Tabadul is a key milestone achievement within the regional capital markets. Tabadul will be mutually beneficial to both capital markets – ADX & BHB, supporting the continued sustained growth in both markets by expanding the respective investor bases, and serving to meet the broadened horizons of investors. We look forward to continuing working with our partners ADX to further enhance and broaden the market offering of Tabadul as we continue to enhance our mutual market connectivity.”
It is worth noting that ADX has 20,000 registered Bahraini investors with a total trading value (Buy + Sell), of AED 1.3 billion and the trading volume (Buy + Sell) of 320 million shares in 2021. The launch of Tabadul promises to further increase these numbers.
Tabadulwill be accessible to all investors whom 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, andin the specified currency of the traded asset for some cases, with no minimum amount required for orders.Investors can trade on 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.
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Tabadul is the premier regional exchange hub to provide limitless investment opportunities with simple and easy access to multiple capital markets in the region. Established on the mutual market access model, it is a collaborative initiate by Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) to widen cross-border investments enabling investors to trade directly with onboarded capital markets. Investors can trade securities in the other capital markets by registering with their authorisedlocal broker and requesting to trade via Tabadul.
About Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17 March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.
About Bahrain Bourse
Bahrain Bourse is a self-regulated multi-asset marketplace operator established since 1987. Bahrain Bourse aims to offer to its investors, issuers, and intermediaries a comprehensive suite of exchange-related facilities including offering listing, trading, settlement, and depositary services for various financial instruments. We aim to offer our stakeholders with the best investment and trading solutions, and pair it with creative insights and problem solving skills to provide our investors, issuers, and intermediaries with valuable resources to meet their every expectation. Our key growth pillars underpins our way of conducting business and how we interact with our stakeholders: Origination, Innovation, Collaboration, and Pioneering Spirit, and all of them working together is what enables us to offer you with an “Oasis of Investment Opportunities”.