Bahrain Bourse (BHB) and Abu Dhabi Securities Exchange (ADX) announced the launch of the region’s first digital exchange hub, Tabadul.
Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors to trade directly on both exchanges through licensed brokers in both markets, the exchanges said in a statement.
Tabadul will be accessible to all investors whom have registered with eligible local brokers and filled out the requisite KYC documents required by the local exchange in their country of residence.
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 on-boarded exchanges during the designated days and trading hours. All investors must follow the respective capital markets official holidays and trading hours to trade securities accordingly, the statement said.
The launch was marked by an official bell ringing ceremony live streamed from BHB and the ADX headquarters.
Tabadul was the result of the signed strategic partnership agreement in November 2021 between Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) to implement a cross-border plan in trading and post-trading environments.
Hisham Malak, Chairman of Abu Dhabi Securities Exchange (ADX) said, “Our pioneering leaders long-standing vision has been to create a network of exchanges in the region to ensure market liquidity and lasting financial prosperity. This vision has become a reality today with the launch of Tabadul under the leadership of Abu Dhabi Securities Exchange in collaboration with Bahrain Bourse. The partnership highlights the central role that capital market development plays in regional growth.”
Bahrain Bourse’s Chief Executive Officer ahaikh Khalifa Bin Ebrahim Al Khalifa commented: “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 prioritises capital market development.”