MoU paves way for integration of Toshkent Stock Exchange as fifth member of Tabadul.

ADX and RSE will collaborate to enhance respective electronic trading and post-trading environments, strengthen market efficiencies, and foster innovation across both exchanges.

On April 19, 2024, the Republican Stock Exchange “Toshkent” (RSE) signed a Memorandum of Understanding with Abu Dhabi Securities Exchange (ADX) to collaborate on a number of key initiatives. The agreement underscores the commitment of both exchanges to enhance the global securities market through cooperation and shared expertise.

 The MoU paves the way for the inclusion of RSE as the fifth member of the Tabadul Digital Exchange Hub, the region’s first digital exchange centre based on mutual market access, enhancing connectivity and opening new avenues for cross-border investment opportunities. The agreement underscores the commitment of both exchanges to enhance the global securities market through cooperation and shared expertise, emphasising the importance of collaboration for the effective development of market economies in both countries.

 Under the terms of the MoU, ADX and RSE will collaborate to enhance their respective electronic trading and post-trading environments, share modern trading methods and technologies, and support each other in conducting educational and training programs aimed at fostering market growth and innovation.

 

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “This Understanding with the Republican Stock Exchange serves as new milestone in our ongoing efforts to augment global connectivity and foster information exchange among diverse markets. This partnership expands our reach into Central Asia, aligning perfectly with our goals of increasing cross-border market efficiency and liquidity. We look forward to welcoming and adding RSE into the Tabadul platform in the near future. Together with the members of the Tabadul Hub, we aim to provide our investors with more access to international markets and innovative solutions to expand their portfolios, thus reinforcing our position as a leading institution driving growth in the global marketplace."

 

George Paresishvili, Chief Executive Officer of RSE "Toshkent", said "We are very excited to have signed MOU with the Abu Dhabi Securities Exchange, which paves the way for further collaboration between our exchanges. ADX’s Tabadul initiative is about mutual recognition of member-brokers and enabling cross-border trading and settlement of securities in various markets across Middle East and Central Asia. Tabadul initiative bodes well for our strategy of enabling foreign investors’ easy access to Uzbek capital market and vise versa."

 

The MoU is expected to strengthen cross-border market activity between the two countries and contribute to the growth of the securities market in both the United Arab Emirates and the Republic of Uzbekistan.