The Abu Dhabi Securities Exchange signed two memoranda of understanding with the Egyptian Exchange and the Damascus Securities Exchange during the annual conference of the Federation of Arab Capital Markets, which was hosted by Abu Dhabi.
The two memoranda provide a framework for cooperation between the Abu Dhabi market and both the Egyptian Exchange and the Damascus market, including market development, studying mechanisms to expand cross-border trading, enhancing investor access, as well as exploring opportunities for the two exchanges to join the exchange platform.
The two agreements come within the framework of cooperation between Arab capital markets, while the Egyptian Stock Exchange and the Damascus Stock Exchange had previously signed a bilateral memorandum of understanding in 2006.
The Egyptian Stock Exchange includes 277 listed companies, with a total market value of AED 282.6 billion in August.
Trading on the Damascus Securities Exchange began in 2009 with six listed companies. The market currently includes 27 issuers, with a total market value of 7.7 billion dirhams.
