MANAMA: Bahrain Bourse (BHB) hosted a high-level delegation from Abu Dhabi Securities Exchange (ADX) for two days to agree on practical steps to be taken by both parties in order to implement the action plan for the agreement that has been signed between Bahrain Bourse and ADX in November.

Both parties agreed on a mechanism to implement new measures, including the implementation of External Market Access (Cross-Brokerage), Order Routing, Central Securities Depositories (CSDs) & settlements, and Exchange Traded Funds (ETFs) Listing & Settlement.

Chief Executive Officer of Bahrain Bourse, Shaikh Khalifa bin Ebrahim Al-Khalifa commented: “Following the signing with ADX, we are working closely together to implement the plan of listing ETFs, enabling CSD integration in both markets, and automating smart order routing systems. Our collaboration with ADX goes in line with Bahrain Bourse’s strategy to enhance market liquidity and provide enhanced services to investors in order to develop the capital market in the Kingdom of Bahrain.”

Chief Executive Officer of ADX, Saeed Hamad Al Dhaheri, commented: “The steps that we have agreed to take with the Bahrain Bourse during our two-day visit will put into action a robust series of measures that will enhance liquidity and efficiency in both of our markets. Technological and product innovation are at the forefront of ADX’s strategy to bolster the dynamism of the Emirate’s capital markets. Forging deep relationships with the Bahrain Bourse will bring about mutual benefits while increasing the accessibility of high growth opportunities for investors on both exchanges.”

It is worth noting that earlier this month, Bahrain Bourse and ADX signed a strategic partnership agreement to implement a cross-border plan in trading and post-trading environments over the following nine months. As part of ADX’s growth strategy, announced at the start of the year, the exchange is forming relationships with global exchanges, expanding its product and service offerings to the market, and investing in cutting-edge infrastructure.