Astana International Exchange joins Tabadul Hub
ALMATY. April 24 (Interfax) - Astana International Exchange (AIX) has officially joined the Tabadul Digital Exchange Hub established by the Abu Dhabi Securities Exchange (ADX), allowing for bilateral cross-exchange trading between the two entities, AIX said in a press release.
"This collaboration enhances liquidity and streamlines trading mechanisms for investors by making AIX and ADX listed securities available for cross-trading. Tabadul facilitates remote access for brokerage firms affiliated with the exchanges, reinforcing their dedication to fostering stronger relationships and promoting collaboration. Through Tabadul, investment opportunities are expanded across member exchanges regionally and globally," the press release says.
AIX's integration into the Tabadul Digital Exchange Hub follows a strategic partnership with ADX, as outlined in their June 2023 Memorandum of Understanding.
Freedom Finance Global has been recognized and onboarded as a Tabadul Hub broker from Kazakhstan, while BHM Capital has joined AIX as an ADX trading member via Tabadul, the press release said. Efforts are underway to onboard additional trading participants from both sides, with ADX members initially gaining access to AIX securities denominated in USD.
"The trading partnership between ADX and AIX aligns seamlessly with the AIX's objectives and promises to enhance cross-border market integration between Kazakhstan and GCC markets. Becoming part of the Tabadul Hub introduces fresh avenues for Kazakhstani investors enriching the array of investment instruments accessible to market participants," AIX CEO Assel Mukazhanova said.
AIX was formed in 2017 as part of the development of the Astana International Financial Center. AIX shareholders are the Astana International Financial Center, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, providing a reliable investment environment. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative.
The Astana International Financial Center (AIFC) is an independent jurisdiction with a favorable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan's economy.
The Abu Dhabi Securities Exchange (ADX) was established on November 15, 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. 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. ADX is the second largest market in the Arab region.