As part of its strategy to aid the development of the Middle East capital markets, Abu Dhabi Securities Exchange (ADX) has hosted a week’s training and orientation for representatives from the newly established Damascus Securities Exchange (DSE).
DSE was invited following a Memorandum of Understanding (MoU) signed between the two exchanges in October 2007, which committed ADX to providing them with consultancy and training services.
The two exchanges also agreed to share trading data and information about listed securities; facilitate the trading of securities listed on both markets; and encourage and facilitate the cross-listing of securities and co-operation between brokers.
“ADX is delighted to work with DSE on the establishment and operation of their exchange”, said Rashed al Baloushi, Deputy Chief Executive and Director of Operations at ADX. “We have a history of working with other exchanges in this region, helping them to develop and grow.”
“As more investors look to the Middle East for opportunities, it is vital that we all work together to ensure a transparent and well-regulated market, operated to the highest international standards.”
So far, ADX has provided DSE with training and orientation in the areas of information technology, company listings, market operations and surveillance, and clearing, securities and depository services.
This is the second such programme ADX has run. The first was last year, with the Baghdad Stock Exchange.
