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Abu Dhabi, Bahrain stock markets in talks for ‘strategic partnership’

Officials from Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) meeting this week. Source: Bahrain Bourse

Officials from Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) this week held meetings to discuss developing a strategic partnership to enhance greater cross-border cooperation between the two stock market exchanges.

The discussions build on a cooperation agreement signed in November 2021, which aims to achieve synergies, enhance market liquidity and promote innovative products and services, both bourses said in press releases issued on Thursday.

Sheikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and Vice Chairman and Managing Director of Bahrain Clear, said: “Bahrain Bourse and ADX are making strong progress on a range of strategic initiatives that support the further growth and diversification of the regional economy. We look forward to launching these initiatives later this year.”

Saeed Hamad Al Dhaheri, Managing Director and CEO of ADX, added: “Our exchanges are making strong progress in the implementation of an action plan that will provide significant opportunity to issuers and regional and global investors. We hope that this partnership will serve as a template for broader relationships with a number of regional exchanges in the coming years.”

ADX was launched on November 15, 2000, while Bahrain Bourse has been established since 1987.

Reuters reported on Thursday that most Gulf bourses tracked global shares lower, resulting in price corrections following recent significant increases. ADX fell 0.6 percent to 9,846, while Bahrain was down 2.1 percent to 1,922.