Muscat – The Muscat Stock Exchange (MSX), in collaboration with the Tabadul Hub operated by the Abu Dhabi Securities Exchange (ADX), on Monday announced the signing of a series of agreements with regional and international financial markets, including the Kazakhstan Stock Exchange (KASE) and the Astana International Exchange (AIX).
The agreements complete the contractual, regulatory and operational frameworks required to connect the Muscat Stock Exchange with these markets through the Tabadul Hub. In parallel, an agreement was concluded between the Muscat Clearing and Depository (MCD) and the Tabadul Hub to facilitate the clearing and settlement of transactions executed by licensed Omani brokerage firms.
In a press statement, Haitham Salim al Salmi, chief executive officer of MSX, said the step represents a continuation of MSX’s approach to strengthening its regulatory and operational infrastructure. He noted that it reflects MSX’s commitment to enhancing the integration of the Omani market with regional and international trading ecosystems, contributing to improved market efficiency, expanded investment options and sustainable growth over the medium and long term.
The signing ceremony was attended by senior executives and representatives of relevant markets and institutions, including the Abu Dhabi Securities Exchange as the operator of the Tabadul Hub, representatives from the Kazakhstan Stock Exchange and the Astana International Exchange and their respective central securities depositories, as well as the Muscat Clearing and Depository and a number of brokerage firms.
Abdullah Salim al Nuaimi, Chief Executive Officer of the Tabadul Hub, said Tabadul continues to play its role as a regional enabler of market connectivity through an integrated operating model that balances expanded market access with the highest standards of governance and compliance. This enables brokerage firms and investors to benefit from a secure and interconnected trading environment.
The Tabadul Hub ecosystem currently includes several exchanges, namely the Abu Dhabi Securities Exchange, Muscat Stock Exchange, Kazakhstan Stock Exchange, Astana International Exchange, Armenia Stock Exchange and Bahrain Bourse.
The signing of these agreements by MSX and MCD forms part of the completion of their integration with KASE and AIX through bilateral contractual arrangements that regulate operational relationships and clearly define roles, responsibilities and working mechanisms.
The agreements signed between MSX and both KASE and AIX cover the regulation of remote trading mechanisms through the Tabadul Hub. These arrangements enable licensed brokerage firms at MSX to access connected markets in accordance with clear registration and accreditation procedures, while applying the host market’s rules relating to trading, disclosure and supervision, and preserving the regulatory independence of each market.
Additionally, the agreements signed between MCD and the Tabadul Hub govern the rules and procedures for the clearing and settlement of securities under the Remote Trading Members framework across participating markets through Tabadul. The agreements regulate the clearing and settlement processes for transactions executed by Omani members in participating markets via the Tabadul Hub, as well as transactions executed by non-Omani members from all Tabadul-connected markets trading on MSX. They also define the role of MCD in this process.
Under these arrangements, clearing and settlement operations will be carried out through coordination between MCD and the clearing and depository centres of KASE and AIX, in accordance with the rules applicable in each market, ensuring the seamless movement of securities and cash settlements across connected markets.
