Abu Dhabi Securities Exchange (ADX) announced today they have signed a Memorandum of Understanding (MoU) with the Shanghai Stock Exchange (SSE) in a move which will promote further co-operation between the two exchanges.
The agreement will also see ADX and SSE working closely together in terms of information sharing and product development.
"Shanghai is a large and well established stock exchange", said Tom Healy, CEO of ADX. "Abu Dhabi has the potential to benefit hugely from their experience and we hope this MoU will help our exchanges develop close working relationships.
"In particular, we hope that Shanghai-listed companies will see the benefits of a dual-listing on ADX," he continued. "Abu Dhabi is a dynamic economy with a clear road-map for further development. The Government’s Economic Vision 2030 is clear about ADX’s potential as powerful engine for growth within the Emirate, and agreements such as this with Shanghai, will help us achieve this." Mr Geng Liang, Chairman of the Shanghai Stock Exchange, echoed Mr Healy’s sentiments saying: "We are seeing an increasing amount of interest from both our listed companies and investors in the economic development underway in Abu Dhabi. Like ADX, SSE is also in the process of developing a wider range of securities and we look forward to working together as we develop more investment opportunities for our stakeholders." Mr Zhuang Ruijin, Economic and Commercial Counsellor at the Commercial Office of the Chinese Embassy in Abu Dhabi, was also present at the signing ceremony.
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