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The United Arab Emirates’ (UAE) Abu Dhabi Securities Exchange (ADX) and Israel’s Tel Aviv Stock Exchange (TASE) signed an agreement to explore potential opportunities for collaboration and cross-listing of securities, UAE’s official WAM news agency reported, Trend reports citing Xinhua.
The MoU was signed at a virtual signing ceremony on Wednesday.
The MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges and contribute to the growth of the capital markets in the UAE and Israel.
It was the first time an Arab exchange has entered into a commercial relationship with the state of Israel, WAM noted.
The UAE and Israel agreed to formally normalize their relations in mid-August and signed the Abraham Accord on September 15.
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