Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) have launched ‘Tabadul’, the region’s first digital exchange hub.
Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi as well as enable investors to trade directly on both exchanges through licensed brokers in both markets.
ADX Chairman Mr. Hisham Malak rang the market opening bell at ADX and the Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa rang the market opening bell at BHB.
Hisham Khalid Malak Chairman – ADX
“The launch of Tabadul reflects on the emirate’s commitment to have closer economic ties with nations in the region and enhance market liquidity. It is a step forward in enhancing cooperation between UAE and Bahrain and will further bring economic prosperity to both nations. This new milestone will contribute to the economic growth of Abu Dhabi through accelerating economic diversification and enhancing its financial services sector, attracting a wider range of investors and issuers from around the world creating a dynamic capital market environment.”
Tabadul was the result of the signed strategic partnership agreement in November 2021 between ADX and BHB to implement a cross-border plan in trading and post-trading environments.
Mr. Saeed Hamad Al Dhaheri, MD and CEO of ADX said that “the launch of Tabadul is a testament to our commitment to the strategy and to being the market of choice for issuers and investors. Tabadul will strengthen ties between regional exchanges, and expand investment opportunities for investors.”
As per the statement, securities on Tabadul are traded in the respective exchange’s local currency, and in the specified currency of the traded asset for some cases, with no minimum amount required for orders. Investors can trade on-boarded exchanges during the designated days and trading hours.
“The launch of Tabadul is a culmination of BHB and ADX efforts during the past eight months, which reflects upon BHB’s commitment to enhance coordination with GCC Bourses in line with the Financial Services Sector Development Strategy of the Economic Recovery Plan that prioritizes capital market development,” remarked Shaikh Khalifa Bin Ebrahim Al Khalifa, Bahrain Bourse’s CEO, vice chairman and MD of Bahrain Clear.
