Borsa Istanbul will provide application and consultancy support to the Abu Dhabi Stock Exchange in the field of information technologies.
Borsa Istanbul Inc. announced that it will provide application and consultancy support to the Abu Dhabi Stock Exchange of the United Arab Emirates (UAE) in the field of information technologies.
According to the statement made by Borsa Istanbul Inc., a commercial agreement was signed between Borsa İstanbul and Abu Dhabi Exchange during President Recep Tayyip Erdogan’s visit to the United Arab Emirates.
Within the scope of the commercial agreement signed by Borsa Istanbul General Manager Korkmaz Ergun and Abu Dhabi Stock Exchange General Manager and Chief Executive Officer (CEO) Saeed Al Dhaheri, Borsa İstanbul will provide application and consultancy support to Abu Dhabi Stock Exchange in the field of information technologies.
On the other hand, support will be provided to the Abu Dhabi Stock Exchange such as the installation of systems, integration, updating the platform, transferring data to the new platform, application and acceptance tests, experience transfer and training. Some of the services will be provided via remote access and some from Abu Dhabi.
It is aimed to continue the cooperation after the project.
“WE REALIZED THE FIRST SERVICE EXPORT”
Borsa İstanbul General Manager Korkmaz Ergun, whose views were given in the statement, stated that they realized the first service export with this commercial agreement they signed.
Ergun stated that within the framework of the agreement, they will assist the Abu Dhabi Stock Exchange’s technological transformation efforts.
“We are very excited to be able to transfer our knowledge and experience to other exchanges within the framework of these studies. In this project, we will work with Abu Dhabi Stock Exchange in the most effective way in system tests, system integration and data transfer processes, provide consultancy on various issues and complete this project in the best way as Borsa Istanbul’s brand project by doing our best.
In the coming periods, we aim to continue this type of cooperation by increasing it with different projects. In this context, we evaluate the demands of different exchanges on various issues. I wish success to all our colleagues and Abu Dhabi Exchange employees who will take part in the Abu Dhabi project.”
“WE ARE LOOKING IMPORTANT TO EXPLORE MORE FIELD OF COOPERATION”
Hisham Khalid Malak, Chairman of Abu Dhabi Stock Exchange, emphasized that expanding global partnerships is the key element of Abu Dhabi Stock Exchange’s strategy to increase liquidity, improve market efficiency and ensure sustainable growth of the market, “We welcome the role that Borsa Istanbul will play in further developing the Abu Dhabi Stock Exchange’s technology capacity.
In addition, we look forward to exploring more areas of cooperation for the mutual benefit of our exchanges, in line with the memorandum of understanding signed in November.”
Saeed Hamad Al Dhaheri, General Manager and CEO of Abu Dhabi Stock Exchange, also noted that this initiative, carried out in partnership with Borsa Istanbul, will further increase the technology capacity of Abu Dhabi Stock Exchange.
Expressing that they look forward to working closely with the new partners, Al Dhaheri said, “The Abu Dhabi Exchange is expanding its product and service range while investing in new technology to make transactions more efficient and improve the customer experience.
In recent months, we have partnered with the Nasdaq to deliver innovative technology, performing a series of quotes and launching the derivatives market. “Our network of affiliates contributes significantly to Abu Dhabi Stock Exchange One’s strategy to become a preferred market for issuers and investors.”
Source: NTV / Translated by Irem Yildiz