Borsa Instanbul will provide consultancy services and implementation support to Abu Dhabi Securities Exchange (ADX) in Information Technologies, according to an agreement signed between the two.
The agreement was signed during the visit of the President Recep Tayyip Erdoğan of Turkey, to the UAE on 14th February.
The CEO Korkmaz Ergun, signed it on behalf of Borsa İstanbul and the Managing Director and CEO, Saeed Al Dhaheri, on behalf of ADX.
Borsa Istanbul will also provide consultancy service in the establishment of systems, integration, updating the platform, transferring data to the new platform, application and acceptance tests, experience transfer and training.
Hisham Khalid Malak, Chairman of ADX, said that broadening global partnerships is a core element of ADX’s strategy to increase liquidity, enhance market efficiency, and drive the sustainable growth of our market.
Ergun, in turn, stated that this agreement marks their first service export as Borsa Istanbul.
This includes providing “consultancy on various issues and making every effort to complete this project as a brand project of Borsa İstanbul in the best possible way,” he noted.
The MoU is the latest in a series of strategic partnership agreements signed by ADX as part of its strategy for growth, announced at the beginning of 2021.
In 2021, ADX sealed agreements with Bahrain Bourse, Borsa Istanbul, and Astana International Exchange to unlock direct market opportunities and enhance cooperation through information exchange.