Muscat: Muscat Stock Exchange (MSX), in collaboration with the Tabadul Hub, has announced the successful signing of a series of agreements with the Kazakhstan Stock Exchange (KASE) and the Astana International Exchange (AIX). These agreements complete the necessary contractual, regulatory, and operational frameworks to connect MSX with these markets through the Tabadul Hub.
According to Oman News Agency, this initiative also includes an agreement between Muscat Clearing and Depository (MCD) and the Tabadul Hub, aimed at facilitating the clearing and settlement of transactions executed by licensed Omani brokerage firms. Haitham Salim Al Salmi, CEO of MSX, highlighted that this move is a continuation of MSX's approach to bolster its regulatory and operational infrastructure. He emphasized that it reflects MSX's commitment to enhancing the integration of the Omani market with regional and international trading ecosystems, thus contributing to improved market efficiency, expanded investment options, and sustainable growth over the medium and long term.
The signing ceremony witnessed the presence of senior executives and representatives from relevant markets and institutions, including the Abu Dhabi Securities Exchange (ADX), which operates the Tabadul Hub. Representatives from the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), their respective central securities depositories, Muscat Clearing and Depository (MCD), and various brokerage firms also attended the event.
Abdullah Salim Al Nuaimi, CEO of the Tabadul Hub, explained that Tabadul continues to play its role as a regional enabler of market connectivity through an integrated operating model. This model balances expanded market access with governance and compliance standards, enabling brokerage firms and investors to benefit from a secure and interconnected trading environment.
The Tabadul Hub ecosystem currently includes several exchanges such as the Abu Dhabi Securities Exchange, Muscat Stock Exchange, Kazakhstan Stock Exchange, Astana International Exchange, the Armenian Stock Exchange, and the Bahrain Bourse. The agreements signed by MSX and MCD are part of completing their integration with KASE and AIX through bilateral contractual arrangements that regulate the operational relationship and define roles, responsibilities, and working mechanisms.
Adil Mukhamejanov, Chairperson of KASE, stated that these contractual arrangements with MSX reflect an advanced level of operational readiness between both parties. This represents an important step toward strengthening connectivity between the capital markets of Central Asia and the Middle East, contributing to broader investment access and increased investor interaction.
The agreements facilitate the regulation of remote trading mechanisms through the Tabadul Hub, allowing licensed brokerage firms at MSX to access the connected markets. This is done in accordance with clear registration and accreditation procedures while applying the host market's rules related to trading, disclosure, and supervision, ensuring the regulatory independence of each market.
Zharas Musabekov, CFO of AIX, affirmed that this step represents a pivotal milestone in the operational integration of connected markets, contributing to a more open and efficient trading environment and enhancing the attractiveness of participating markets to regional and international investors.
Additionally, the agreements between MCD and the Tabadul Hub govern the rules and procedures for clearing and settlement of securities under the Remote Trading Members framework across participating markets. This agreement regulates 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, defining MCD's role in the process.
Mohamed Said Al Abri, CEO of MCD, mentioned that this agreement is a strategic step toward expanding access to regional markets and opening new channels for foreign investment. It enhances investor confidence through compliance with internationally recognized capital market standards, establishing a clear framework for collateral management, trade settlement, and trading limits. This agreement also completes the regulatory foundations governing clearing and depository operations, ensuring the protection of rights for all relevant parties while safeguarding operational integrity and mitigating risks.
Under these arrangements, clearing and settlement operations will be coordinated between MCD and the clearing and depository centers of KASE and AIX, ensuring seamless movement of securities and cash settlements across connected markets.
Haitham Al Salmi, CEO of MSX, emphasized that completing connectivity through the Tabadul Hub forms part of a comprehensive strategic vision aimed at strengthening Oman's capital market within regional and international ecosystems. This vision seeks to create a more open and diversified investment environment, supporting investment attraction and enabling brokerage firms and investors to benefit from broader opportunities, while maintaining governance and compliance levels in line with Oman's efforts to develop the financial sector and enhance its role in supporting the national economy.
This development is anticipated to positively impact market depth and investor base diversification by enabling greater opportunities for cross-market trading and reinforcing confidence in the capital market's regulatory and operational infrastructure.