Dubai and China signed a memorandum of understanding between stock exchanges, with an agreement to explore cooperation on dual-listings, ETFs, and other financial activities.
Dubai Financial Market, the Dubai, United Arab Emirates-based stock exchange, and Shenzhen Stock Exchange in China said in a joint statement that the agreement demonstrated a shared commitment to fostering collaboration and advancing cross-border trading and investment opportunities.
The collaboration will include joint roadshows, seminars, research initiatives and training programs, with the aim of promoting the development of Dubai and China’s capital markets, as well as cross-border financing for listed companies.
The two exchanges will also look at cooperation regarding indexes and fixed-income products, and more informed and convenient access to secondary market activities. The strategic partnership will also be a catalyst for exchanging experience and insights on market and product development, regulatory and ESG practices, and IT capacity building, the statement said.
"This (memorandum of understanding) with Shenzhen Stock Exchange is a pivotal step in strengthening our cross-border ties, driving global investment opportunities, and enhancing market accessibility,” said Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, in the statement. “By leveraging our combined strengths, we are not only reinforcing the ties between our financial ecosystems but also paving the way for new avenues of growth and innovation that will benefit investors and stakeholders in both regions."
The memorandum was signed by Chen Feng, director of international cooperation department at the Shenzhen exchange, and Afra Al Suwaidi, CEO of Dubai Central Securities Depository — a subsidiary of the Dubai exchange.
