The Abu Dhabi Securities Exchange plans to develop its capital markets by forging partnerships with global exchanges and offering a broad range of products and services to the market. Reuters
The Abu Dhabi Securities Exchange plans to develop its capital markets by forging partnerships with global exchanges and offering a broad range of products and services to the market. Reuters
The Abu Dhabi Securities Exchange plans to develop its capital markets by forging partnerships with global exchanges and offering a broad range of products and services to the market. Reuters
The Abu Dhabi Securities Exchange plans to develop its capital markets by forging partnerships with global exchanges and offering a broad range of products and services to the market. Reuters

Abu Dhabi and Bahrain bourses join hands to boost liquidity


Deepthi Nair
  • English
  • Arabic

The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse signed an agreement for greater cross-border co-operation to enhance market liquidity and promote the issuance of low-cost investment vehicles.

The move is part of ADX’s strategy to develop its capital markets by forging partnerships with global exchanges and offering a broad range of products and services to the market.

As part of the agreement, the two stock markets will introduce a number of products and services, including exchange-traded funds, smart order routing and cross-border direct trading, the Abu Dhabi bourse said on Wednesday.

The alliance between ADX and Bahrain Bourse will encourage capital market activity through the introduction of innovative products and services
Mohammed Al Hammadi,
ADX chairman

“The alliance between ADX and Bahrain Bourse will further enhance the relationship between the UAE and Bahrain, showcasing the high-growth opportunities on both exchanges and encouraging capital market activity through the introduction of innovative products and services,” said Mohammed Al Hammadi, ADX chairman.

“In turn, this will provide tangible benefits to the economies of the UAE and Bahrain.”

The ADX, region’s second-biggest bourse, is expanding investable asset classes and developing new offerings for regional and international investors as it continues to outperform its peers in the GCC.

The emirate’s stock market had a market capitalisation of more than Dh1.5 trillion ($415bn) as of Tuesday and is up more than 58 per cent this year on the back of initial public offerings, rising foreign investment and higher oil prices.

The bourse set up a derivatives market last week that will allow trading in single stock futures.

It also plans to introduce index futures in the first quarter of 2022, prior to the launch of a wider range of derivative products that will boost market liquidity.

The ADX and the Abu Dhabi’s Department of Economic Development have also submitted a proposal to the Securities and Commodities Authority for a special purpose acquisition company regulatory framework, the first in the Mena region.

“Discussions between the ADX and Bahrain Bourse focused on how we can expand market integration and move forward on joint initiatives such as dual listings, ETFs and market access, which will enhance liquidity in both securities markets,” said ADX chief executive Saeed Al Dhaheri.

“Technology and innovation are at the heart of ADX’s strategy for growth and we look forward to deepening our partnership with other leading regional and global exchanges to bring about mutually beneficial results.”

The two bourses agreed on a strategic plan to introduce new measures over the next nine months to strengthen ties between investors in both countries by enabling the seamless placement of orders on the securities markets while reducing transaction costs, the bourses said.

“Our partnership with ADX will attract new investors and promote a healthy listing deal pipeline,” said Abdulkarim Bucheery, chairman of Bahrain Bourse and chairman of Bahrain Clear.

Our partnership with ADX will attract new investors and promote a healthy listing deal pipeline
Abdulkarim Bucheery,
chairman, Bahrain Bourse

“Bahrain Bourse and Bahrain Clear’s collaboration with ADX will also support the growth of capital markets in the region and support the diversification of GCC economies.”

The collaboration ties in with the Bahrain Bourse’s “mandate to evolve the Middle East’s capital market ecosystem”, according to Shaikh Khalifa Al Khalifa, chief executive of Bahrain Bourse and vice chairman and managing director of Bahrain Clear.

“We aim to promote the listing of ETFs, enable central securities depository integration in both markets and automate smart order routing systems.”

The%20specs
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The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Essentials

The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.

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Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

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The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

Engine: 5.6-litre V8

Transmission: seven-speed automatic

Power: 400hp

Torque: 560Nm

Price: Dh234,000 - Dh329,000

On sale: now

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

Updated: November 10, 2021, 1:36 PM`