Dubai and Amman, December 18, 2016 - Nasdaq Dubai and Amman Stock Exchange (ASE) have signed a Memorandum of Understanding (MoU) to explore cooperation possibilities including facilitating a process for dual listings.
The MoU calls for cooperation on a range of activities and exchange of information and expertise, including on dual listings for companies on the ASE and Nasdaq Dubai, in addition to establishing a framework for collaboration between the two markets.
The MoU was signed in Dubai by Nader Azar, Chief Executive of ASE, and Hamed Ali, Chief Executive of Nasdaq Dubai, in the presence of senior executives of both exchanges as well as Fadi Khalaf, Secretary General of the Arab Federation of Exchanges.
Nader Azar, Chief Executive of ASE, said: "Our commitment to exploring collaboration with Nasdaq Dubai, as the region's international exchange, will strengthen our links with global capital markets for the benefit of Jordanian companies and investors. By sharing expertise and cross fertilising ideas we will enable both exchanges to grow and better serve their market participants."
Hamed Ali, Chief Executive of Nasdaq Dubai, said: "Jordanian businesses have a deserved reputation for entrepreneurial dynamism which Nasdaq Dubai is well placed to support. Through this agreement we look forward to building close relationships with Jordanian financial markets professionals, as well as companies that aim to raise regional and international capital and expand their visibility to a global audience. "
The MoU was signed at Nasdaq Dubai on December 15, 2016.
About Amman Stock Exchange
The Amman Stock Exchange (ASE) was established in March 1999 as a non-profit institution with administrative and financial autonomy. It is authorized to function as an exchange for the trading of securities in Jordan. The ASE is governed by a seven-member board of directors. The ASE membership is comprised of Jordan's 57 brokerage firms. The ASE is committed to the principles of fairness, transparency, efficiency, and liquidity. The exchange seeks to provide an organized, fair, transparent, and efficient market for trading securities in Jordan. The ASE is a full member of the World Federation of Exchanges and the currently the Chairman of the Arab Federation of Exchanges. The ASE lists shares, right issues, bonds, and soon Sukuk. Recently, the ASE introduced an OTC market.
About Nasdaq Dubai
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
