ADX partners with Edaa to strengthen bilateral cooperation
04 February 2019 Abu Dhabi
Image: Shutterstock
Abu Dhabi Securities Exchange (ADX) has signed an agreement with the Securities Depository Center Company (Edaa), which is wholly-owned by the Saudi Stock Exchange (Tadawul) to strengthen bilateral cooperation in the dual listing of securities in Saudi and UAE financial markets.
Edaa is the sole entity responsible for providing custody, registration, clearing and settlement services for securities traded on the Saudi Stock Exchange.
The agreement aims to identify and standardise the operational, administrative and technical
procedures between the two countries and are also part of ADX and EDAA continuous efforts to enhance their regional standing and implement the highest standards of governance and transparency.
Additionally, the agreement allows for the transfer of securities and updating the securities ownership registers in each country.
Khalifa Salem Al Mansouri, acting chief executive of ADX, and Mamdooh AlSedairy, CEO of EDAA signed the MoU.
Edaa is the sole entity responsible for providing custody, registration, clearing and settlement services for securities traded on the Saudi Stock Exchange.
The agreement aims to identify and standardise the operational, administrative and technical
procedures between the two countries and are also part of ADX and EDAA continuous efforts to enhance their regional standing and implement the highest standards of governance and transparency.
Additionally, the agreement allows for the transfer of securities and updating the securities ownership registers in each country.
Khalifa Salem Al Mansouri, acting chief executive of ADX, and Mamdooh AlSedairy, CEO of EDAA signed the MoU.
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