Cooperation Agreement Between Dubai Financial Market (DFM) and SIX Swiss Exchange
Goals of the Agreement between Dubai Financial Market and SIX Swiss Exchange:
- Foster mutual growth and innovation in the global financial market.
- Simplify the process of transferring stocks between the two exchanges.
- Facilitate cross-listing and stock exchange.
- Share best practices and market data.
- Evaluate and implement potential opportunities for dual or cross-listing of products.
- Expand market access.
- Enhance investment prospects for participants from both regions and markets.
- Establish central securities depository links to facilitate cross-border stock exchange and transfers.
Key Initiatives:
- Central Depository Linkage: SIX and Dubai Central Securities Depository (DCSD) will work together to link central depository systems for smoother stock exchange and transfers.
- Company Familiarization: DFM and SIX will introduce companies and issuers to the advantages of each market, available growth opportunities, and services.
- Collaboration in Other Areas: The exchanges will collaborate in areas like market data, post-trade services, innovation, and growth.
Expected Impact:
- Increased liquidity in the markets listed on both exchanges.
- Attraction of more investments to both regions.
- Provision of new opportunities for companies to raise capital.
- Improvement of market efficiency and financial system linkage.
Comments:
- Hamed Ali, CEO of DFM and Nasdaq Dubai:
“This strategic partnership embodies our shared commitment to driving innovation and fostering growth in the global financial landscape.”
His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” received a cable of condolence from His Highness President of Egypt, and from His Majesty King of Kingdom of Jordan, on the death of Sheikh Tahnoun bin Mohammed Al Nahyan. pic.twitter.com/Gb0AvN6T4f
— UAE Voice (@uae_voiceeng) May 3, 2024
- Bjørn Sibbern, Head of Global Exchanges and Member of the Executive Board of SIX:
“At SIX, we are constantly striving to expand and improve our range of international products and services, which already provide a highly international environment and house numerous multinational companies. By cooperating with DFM, we aim to broaden companies’ options for raising capital and tap into additional and wider investor pools, along with facilitating cross-border transfers and stock exchange potential.”
This cooperation agreement is a positive step for Dubai Financial Market and Swiss Exchange.
As it is expected to benefit investors and companies in both regions.
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