Abu Dhabi’s ADX Signs MOU With Tel Aviv Stock Exchange

DUBAI (Reuters) -
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A stock market ticker screen in the lobby of the Tel Aviv Stock Exchange. (Flash90/File)

Abu Dhabi’s ADX securities market signed a memorandum of understanding with Israel‘s Tel Aviv Stock Exchange to foster cooperation between the two exchanges, the Abu Dhabi government media office said Wednesday on social media.

The U.S.-brokered formalization of ties between the United Arab Emirates and Israel on Sept. 15 has paved the way to commercial deals in various fields.

Wednesday’s MOU “lay(s) out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation,” the TASE said in a statement.

It predicted a cross-listing of securities, mutual trading and introduction of investors by each exchange’s respective members and data-sharing.