The Abu Dhabi Securities Market (ADSM) has signed a deal with NYSE Euronext, the world's largest operator of stock exchanges, to develop the first derivatives trading platform in the region.The move will also see the ADSM drop technology supplied by the Nasdaq OMX Group, which is closely linked to local rival, Borse Dubai.
ADSM also is seeking to develop further links with the NYSE Euronext, which owns the New York Stock Exchange and the Paris-based Euronext exchange. It is also working with the Tokyo Stock Exchange to develop its trading platform.
The two partners will also explore opportunities for cross listings under the agreement, with ADSM acting as the exclusive partners in the Gulf region. (MEED)
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