- ADX unlocks access to USD 21.7 billion Iraqi market to its Tabadul hub investors
- Strategic partnership connects regional capital markets, giving Middle East investors direct access to equities in Baghdad
The Abu Dhabi Securities Exchange (ADX) announced that the Iraq Stock Exchange (ISX) has officially gone live on the Tabadul platform, becoming the eighth market to go live and begin trading. The Tabadul network is the region’s first-of-its-kind mutual market access platform and includes 11 exchanges. Investors from Iraq will now have direct access to securities listed on ADX, enabling two-way trading and strengthening strategic ties between the markets.
Tabadul enables seamless cross-exchange trading with settlement in local currencies, eliminating the need for dual listings or custodianship. The Tabadul platform connects the financial markets of Abu Dhabi, Bahrain, Muscat, Astana, Kazakhstan, Armenia, Southern Africa, and Iraq.
With the addition of the ISX, Tabadul now brings together more than USD 1 trillion in total market capitalization, 700 listed companies, and more than 11 million registered investors.
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: “As regional economies become more connected, building direct investment channels is essential to driving sustainable growth as capital flows between leading regional markets. Bringing the Iraq Stock Exchange onto Tabadul gives investors a clear, straightforward path to trade Iraqi companies while expanding Abu Dhabi’s role as a trading center. Strengthening the Tabadul hub supports Abu Dhabi Vision 2030 and the emirate’s long-term economic strategy by deepening market liquidity and opening new growth channels with the emirate.”
Ali Jamal Amin, Executive Director of the Iraq Stock Exchange, said: “Today’s bell ringing marks Iraq going ‘live’ on the Tabadul hub, an important milestone in strengthening cooperation and integration between the Iraqi and Abu Dhabi capital markets. It also opens new opportunities for cross-border connectivity and trading, supporting greater access to regional financial markets and enhancing investment opportunities for market participants.”
Based in Baghdad, the ISX continues an Iraqi stock market tradition dating back to 1939. Launched in its current form in 2004, the exchange has expanded from 15 listed companies to 103, with a total market value of USD 21.7 billion as of August 2026. The exchange lists shares, government bonds, and corporate debt, providing companies with the funding needed to expand and support Iraq’s economic development.
The ADX launched Tabadul in July 2022 as the region’s first digital exchange operating on a mutual market access model. The platform creates a digital network of exchanges that allows investors to trade securities on international markets with remote access for brokerage firms partnering with the exchanges. Tabadul allows investors to access shares in companies across various sectors, including banking, finance, energy, and telecommunications.
Tabadul’s growth comes during a record period for trading activity. Total trading value on the platform has reached 13.5 billion dirhams so far in 2026, surpassing the total volume traded in all of 2025. These figures reflect growing interest among regional investors in easier crossborder trading and combined market liquidity.
