Dubai, Abu Dhabi sign exchange agreement

Move aimed at driving growth of markets in the region

Abu Dhabi, Crude, Dubai, Middle East, NEWS, Onshore, Business Management

The Dubai Mercantile Exchange (DME) and Abu Dhabi Securities Exchange (ADX) on Tuesday signed a Memorandum of Understanding (MoU).

The move will see two of the leading regional exchanges collaborate on several fronts to further drive the growth and development of capital markets in the UAE and the wider Middle East region.

The MoU was signed by Ahmad Sharaf, Chairman of DME, and Rashed Al Balooshi, Chief Executive, Abu Dhabi Securities Exchange.

Ahmad Sharaf, Chairman of DME, said, “This MoU between DME and ADX is of immense strategic importance as it brings together two exchanges that have firmly established the UAE’s position on the global financial map.

“DME values any opportunity to contribute to the continued growth of regional financial markets. DME and ADX will work closely to develop and introduce new financial products that will resonate with a diverse investor base”, added Sharaf.

Rashed Al Balooshi, Chief Executive, Abu Dhabi Securities Exchange said, “Knowledge-based economic growth is one of the top priorities today and hence through this MoU we hope to establish a strong relationship with the DME to share knowledge and best practices for mutual benefit and development.

"We are confident that together we can further drive the growth and expansion of the capital markets in the UAE and set a leading example for our regional counterparts.”

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