Abu Dhabi's ADX signs MOU with Tel Aviv Stock Exchange

Abu Dhabi's ADX securities market has signed a memorandum of understanding (MOU) with Israel's Tel Aviv Stock Exchange (TASE) to foster co-operation between the two exchanges, the Abu Dhabi government media office said Wednesday on Twitter.

The U.S.-brokered formalisation of ties between the United Arab Emirates and Israel on Sept. 15 has paved the way to commercial deals in various fields. Wednesday's MOU "lay(s) out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation," the TASE said in a statement.

It predicted a cross-listing of securities, mutual trading and introduction of investors by each exchange's respective members and data-sharing.