ADX signs MoU with Edaa in Saudi Arabia
February 5, 2019

The Abu Dhabi Securities Exchange says it recently signed a Memorandum of Understanding (MoU) with the Securities Depository Center Company (Edaa). Edaa is wholly-owned by the Saudi Stock Exchange (Tadawul) and the sole entity responsible for providing custody, registration, clearing and settlement services for securities traded on the Saudi Stock Exchange. The MoU was signed in the Saudi capital Riyadh with the aim to strengthen bilateral cooperation in the dual listing of securities in Saudi and UAE financial markets.

ADX says the agreement falls within the framework of co-operation between the two countries, and the Saudi-Emirati Co-ordination Council, which seeks to achieve a common vision of integration between the two countries and bolster bilateral cooperation on key issues and common concerns.

The agreement is part of ADX and EDAA continuous efforts to enhance their regional standing and implement the highest standards of governance and transparency in the listing process.

The agreement aims to identify and standardize the operational, administrative and technical procedures between the two countries, and establish effective co-operation on dual listing of securities in their financial markets.

ADX says this will be achieved through the exchange of information and data included in the ownership register or relevant to transactions carried out by brokers, members, or investors. Additionally, this agreement allows for the transfer of securities, and updating the securities ownership registers in each country.





This site, like many others, uses small files called cookies to customize your experience. Cookies appear to be blocked on this browser. Please consider allowing cookies so that you can enjoy more content across globalcustody.net.

How do I enable cookies in my browser?

Internet Explorer
1. Click the Tools button (or press ALT and T on the keyboard), and then click Internet Options.
2. Click the Privacy tab
3. Move the slider away from 'Block all cookies' to a setting you're comfortable with.

Firefox
1. At the top of the Firefox window, click on the Tools menu and select Options...
2. Select the Privacy panel.
3. Set Firefox will: to Use custom settings for history.
4. Make sure Accept cookies from sites is selected.

Safari Browser
1. Click Safari icon in Menu Bar
2. Click Preferences (gear icon)
3. Click Security icon
4. Accept cookies: select Radio button "only from sites I visit"

Chrome
1. Click the menu icon to the right of the address bar (looks like 3 lines)
2. Click Settings
3. Click the "Show advanced settings" tab at the bottom
4. Click the "Content settings..." button in the Privacy section
5. At the top under Cookies make sure it is set to "Allow local data to be set (recommended)"

Opera
1. Click the red O button in the upper left hand corner
2. Select Settings -> Preferences
3. Select the Advanced Tab
4. Select Cookies in the list on the left side
5. Set it to "Accept cookies" or "Accept cookies only from the sites I visit"
6. Click OK

The Abu Dhabi Securities Exchange says it recently signed a Memorandum of Understanding (MoU) with the Securities Depository Center Company (Edaa). Edaa is wholly-owned by the Saudi Stock Exchange (Tadawul) and the sole entity responsible for providing custody, registration, clearing and settlement services for securities traded on the Saudi Stock Exchange. The MoU was signed in the Saudi capital Riyadh with the aim to strengthen bilateral cooperation in the dual listing of securities in Saudi and UAE financial markets.

ADX says the agreement falls within the framework of co-operation between the two countries, and the Saudi-Emirati Co-ordination Council, which seeks to achieve a common vision of integration between the two countries and bolster bilateral cooperation on key issues and common concerns.

The agreement is part of ADX and EDAA continuous efforts to enhance their regional standing and implement the highest standards of governance and transparency in the listing process.

The agreement aims to identify and standardize the operational, administrative and technical procedures between the two countries, and establish effective co-operation on dual listing of securities in their financial markets.

ADX says this will be achieved through the exchange of information and data included in the ownership register or relevant to transactions carried out by brokers, members, or investors. Additionally, this agreement allows for the transfer of securities, and updating the securities ownership registers in each country.



Free subscription - selected news and optional newsletter
Premium subscription
  • All latest news
  • Latest special reports
  • Your choice of newsletter timing and topics
Full-access magazine subscription
  • 7-year archive of news
  • All past special reports
  • Newsletter with your choice of timing and topics
  • Access to more content across the site

More on:  Infrastructure