The Abu Dhabi stock exchange said on Tuesday it has agreed with NYSE Euronext to develop a derivatives market in the emirate, among other ventures.
"This strategic alliance, which will create new growth opportunities to our mutual benefit, represents a significant step in bringing our capital markets closer together," said Tom Healy, director general of the Abu Dhabi Securities Market.
"It will enhance our systems operation, broaden our product offering and assist our development of new business," Healy told reporters in Abu Dhabi, the capital of the United Arab Emirates.
The agreement also provides for companies to list on the respective exchanges, Healy said. (Reuters)
NYSE Euronext in joint venture with Abu Dhabi bourse