The Abu Dhabi Security Exchange (ADX) and the Budapest Stock Exchange (BSE) have signed a memorandum of understanding (MoU) for the mutual benefit of both markets.
Under the agreement, the goal is to forward visibility of the capital markets in both UAE and Hungary.
The two parties are developing joint efforts to develop and promote ETF products, aiming to offer investors in both markets access to a broader range of current and diversified investment options.
Additionally, BSE and ADX plan to explore opportunities for dual listings and cross-border trading between the exchanges.
ADX and BSE are planning to join the Tabadul Hub, Abu Dhabi’s premier digital exchange operating on a mutual market access framework produced by ADX in 2022.
Moreover, the two exchanges intend to trade their best practices, extending to market and product developments, IT capacity building, and regulatory practices.
Commenting on the agreement, Tibor Tóth, CEO of the Budapest Stock Exchange, said, “We are confident that these new initiatives will make our markets even more attractive to both domestic and international investors. Tabadul is a unique platform and initiative providing exciting opportunities for BSE.”
This follows ADX’s partnership with HSBC and FAB in early July, launching the MENA region’s first digital bond listing powered by distributed ledger technology.