MSX Completes Regulatory Frameworks to Link with Regional and International Markets via Tabadul Hub

Muscat: Muscat Stock Exchange (MSX), in collaboration with the Tabadul Hub, announced the signing of a series of agreements with regional and international financial markets, namely the Kazakhstan Stock Exchange (KASE) and the Astana International Exchange (AIX).

The agreements complete the contractual, regulatory, and operational frameworks required to connect MSX with these markets through the Tabadul Hub. In parallel, Muscat Clearing and Depository (MCD) signed an agreement with the Tabadul Hub to regulate the clearing and settlement of transactions executed by licensed Omani brokerage firms under the remote trading mechanism.

On this occasion, Haitham Salim Al Salmi, Chief Executive Officer of Muscat Stock Exchange, stated that this step represents a continuation of MSX’s approach to strengthening its regulatory and operational infrastructure. He affirmed that it reflects MSX’s commitment to enhancing the integration of the Omani capital market with regional and international trading ecosystems, contributing to improved market efficiency, expanded investment options, and sustainable growth over the medium and long term.

The signing ceremony was attended by senior executives and representatives of relevant markets and institutions, including the Abu Dhabi Securities Exchange (ADX), the operator of the Tabadul Hub, representatives of KASE and AIX and their respective central securities depositories, Muscat Clearing and Depository, and a number of brokerage firms.

In this context, Abdullah Salim Al Nuaimi, Chief Executive Officer of the Tabadul Hub, explained that the platform continues to play its role as a regional enabler of market connectivity through an integrated operating model that balances expanded market access with the highest standards of governance and compliance. This approach enables brokerage firms and investors to benefit from a secure and interconnected trading environment.

The Tabadul Hub ecosystem currently includes several exchanges, namely the Abu Dhabi Securities Exchange, Muscat Stock Exchange, Kazakhstan Stock Exchange, Astana International Exchange, Armenia Stock Exchange, and Bahrain Bourse.

The agreements signed between MSX and both KASE and AIX regulate remote trading mechanisms through the Tabadul Hub, enabling licensed brokerage firms at MSX to access connected markets in accordance with clear registration and accreditation procedures. The arrangements apply the host market’s rules related to trading, disclosure, and supervision, while preserving the regulatory independence of each market.

Adil Mukhamejanov, Chairperson of the Kazakhstan Stock Exchange, stated that completing the contractual arrangements with Muscat Stock Exchange reflects an advanced level of operational readiness between the two sides and 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 interaction among investors.

For his part, Zharas Musabekov, Chief Financial Officer of the Astana International Exchange, affirmed that this step constitutes 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 signed between Muscat Clearing and Depository and the Tabadul Hub govern the rules and procedures for clearing and settlement of securities under the Remote Trading Members framework across participating markets. The agreements regulate clearing and settlement processes for transactions executed by Omani members in connected markets via the Tabadul Hub, as well as transactions executed by non-Omani members from Tabadul-connected markets trading on MSX, while clearly defining the role of MCD in this process.

Mohamed Said Al Abri, Chief Executive Officer of Muscat Clearing and Depository, stated that the agreement represents a strategic step toward expanding access to regional markets and opening new channels for foreign investment. He added that it enhances investor confidence through compliance with internationally recognized capital market standards and establishes a clear framework for collateral management, trade settlement, and trading limits, while ensuring the protection of the rights of all relevant parties and mitigating operational risks.

Under these arrangements, clearing and settlement operations will be carried out through coordination between Muscat Clearing and Depository and the clearing and depository centers of KASE and AIX, in accordance with the rules applicable in each market, ensuring the smooth transfer of securities and cash settlements across connected markets.

Haitham Al Salmi emphasized that completing connectivity through the Tabadul Hub goes beyond an operational step, forming part of a comprehensive strategic vision aimed at strengthening the position of Oman’s capital market within regional and international market ecosystems. This vision seeks to create a more open and diversified investment environment that supports investment attraction and enables brokerage firms and investors to benefit from broader opportunities, in line with Oman’s efforts to develop the financial sector and enhance its role in supporting the national economy.