Nasdaq Dubai and AIX introuce direct CSD link
Nasdaq Dubai, the region's international financial exchange, and AIX CSD, the central securities depository of Astana International Exchange, today announced the launch of a direct CSD link between the two markets.
0
The launch was announced during the Capital Market Summit 2025, hosted by Dubai Financial Market (DFM), marking a significant step in enhancing regional financial connectivity and enabling more efficient post-trade settlement for cross-listed securities.
Under the MoU, Nasdaq Dubai and AIX CSD will work together to facilitate the trading and settlement of securities that are dual listed on both exchanges. The operational link will allow market participants to hold shares in dual-listed securities within either CSD and trade them seamlessly on both platforms. This cross-border infrastructure will support fungibility and efficient transfer of securities between UAE and Kazakhstan, creating a more accessible investment environment for issuers and investors alike.
The partnership aims to provide additional investment opportunities, enhance liquidity, and deepen capital market integration between the UAE and Central Asia. By supporting dual listings and streamlining securities settlement, both exchanges are paving the way for broader participation, improved operational efficiency, and access to capital flows across the two markets.
Hamed Ali, CEO of Nasdaq Dubai and DFM, said: 'This collaboration with AIX CSD marks a significant advancement in our efforts to enhance cross-border capital markets infrastructure. By establishing a direct link between our central securities depositories, we are unlocking new opportunities for issuers and investors, facilitating dual listings, improving market accessibility, and enhancing market liquidity and accessibility. It reflects Nasdaq Dubai's commitment to building globally connected markets that deliver operational efficiency, seamless settlement, and expanded capital-raising potential and strengthens Dubai's growing stature as a trusted gateway for international investment.''
Assel Mukazhanova, CEO of Astana International Exchange (AIX), said: 'This is another positive development for the advancement of investment opportunities across the GCC and Central Asian regions. More importantly, the direct two-way link with Nasdaq Dubai CSD is issuer and investor driven.'
The link represents a key milestone in advancing cross-border market collaboration and further strengthens the economic and financial ties between the UAE and Kazakhstan. By enhancing operational infrastructure and enabling seamless movement of capital, the partnership supports broader market participation and positions both Dubai and Astana as forward-thinking hubs in the global financial landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
13 hours ago
- Reuters
UAE shares end higher as outcome of US-China trade talks awaited
June 9 (Reuters) - Stock markets in the United Arab Emirates ended higher on Monday, in step with Asian peers, as investors awaited the outcome of U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook. Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains. Dubai's benchmark index (.DFMGI), opens new tab hit its highest levels since 2008 and settled up 1%, with almost all sectors in positive territory. Tolls operator Salik Company ( opens new tab gained 2.3% and Deyaar Development ( opens new tab surged 14.6%. In Abu Dhabi, the index (.FTFADGI), opens new tab was up for a third straight session and gained 0.1%, lifted by a 1.6% rise in blue-chip developer Aldar Properties ( opens new tab and a 1.8% advance in Abu Dhabi's flagship energy firm Abu Dhabi National Energy Company( opens new tab. ** Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday
Reuters
13 hours ago
- Reuters
OPEC oil output in May rises less than planned, Reuters survey finds
LONDON, June 9 (Reuters) - OPEC oil output rose in May by less than the volume planned, a Reuters survey found, as Iraq made further cuts to compensate for earlier pumping above target and Saudi Arabia and the United Arab Emirates made smaller hikes than allowed. The Organization of the Petroleum Exporting Countries pumped 26.75 million barrels per day last month, up 150,000 bpd from April's total, the survey showed on Monday, with Saudi Arabia making the largest increase. OPEC+, which comprises OPEC and its allies, including Russia, is accelerating its plan to unwind its most recent layer of output cuts. At the same time, some members are required to make extra cuts to compensate for earlier overproduction, in theory limiting the impact of the hikes. Under an agreement by eight OPEC+ members covering May output, the five of them that are OPEC members - Algeria, Iraq, Kuwait, Saudi Arabia and the United Arab Emirates - were to raise output by 310,000 bpd. According to the survey, the actual increase by the five was 180,000 bpd, as compensation cuts by Iraq and lower exports by Saudi Arabia limited the increase. The biggest hike of 130,000 bpd came from Saudi Arabia, the survey found. Iraq, which is under pressure to boost compliance with OPEC+ output quotas, curbed output, the survey found, to meet its commitment for compensation cuts in May. The United Arab Emirates also pumped below its OPEC+ quota in May, the survey found, to reflect the country's relatively low commitments for compensation cuts, a source with knowledge of the issue said. There is a wide range of estimates of output in Iraq and the UAE with many outside sources putting the countries' output higher the the countries themselves. While the Reuters survey and April data provided by OPEC's secondary sources show they are pumping close to the quotas, other estimates, such as those of the International Energy Agency, say they are pumping significantly more. The Reuters survey aims to track supply to the market and is based on flows data from financial group LSEG, information from other companies that track flows such as Kpler, and information provided by sources at oil companies, OPEC and consultants.
The Independent
15 hours ago
- The Independent
Succession power struggles as Mall of the Emirates owners ordered to restructure
A special judicial committee in Dubai has reportedly ordered the parent company of one of the region's retail giants to restructure its board, trying to end years of turmoil after the death of its billionaire founder and secure the future of the owner of the Mall of the Emirates. The changes at Majid Al Futtaim come as Dubai tries to guide the family-run businesses that powered the city-state's growth in the United Arab Emirates through generational change. Authorities also likely want to avoid any further infighting that could slow down the growth of a firm that has long made hiring Emiratis a key goal. The Financial Times first reported on the changes to Majid Al Futtaim's board, saying it came at the orders of a government-established special judicial committee. In 2022, Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, established a special judicial committee to look after the estate of Majid Al Futtaim's founder — also named Majid Al Futtaim — following his death in 2021. Responding to questions Monday from The Associated Press, the company appeared to acknowledge the changes at Majid Al Futtaim Capital, which oversees its group of companies. The changes 'reflect a shareholder-led effort to evolve governance in line with the long-term interests of the Group,' the company said in a statement. 'These changes do not affect the operations or governance of Majid Al Futtaim Holding. Majid Al Futtaim continues to operate under an independent board and strong oversight.' Dubai's government did not respond to a request for comment. The Financial Times described Majid Al Futtaim's parent company as now being overseen by five government and four family representatives. Succession battles aren't unusual in the United Arab Emirates, where family-run businesses dominate private enterprise. Rulers have given merchant families broad control over different sectors in exchange for the promise of big investments and fast-paced development. But over the years, that economic strategy has caused headaches for authorities, who have intervened when patriarchs die and tensions between disgruntled relatives boil over. Majid Al Futtaim is a mainstay of the local consumer economy. It's also a giant in the broader Gulf Arab region, owning and operating prominent hotels, entertainment venues and shopping malls. Its portfolio includes the Mall of the Emirates, a major tourist draw in Dubai that houses the Middle East 's first-ever indoor ski slope. It also runs regional franchises for global brands, including Lego. Majid Al Futtaim's revenues last year topped $9 billion. As crown prince in the 1990s, Sheikh Mohammed mediated a succession dispute between Al Futtaim, the founder, and a cousin. Al Futtaim used the funds from that settlement to start his namesake company.
