ADSM ended yesterday the Forum activities between ADSM & Muscat Brokers, which was organized by Abu Dhabi Securities Market at Hilton Hotel Abu Dhabi lasted for one day. The panel discussions with Muscat Delegation, which was headed by Mr. Ahmed Bin Saleh Al Marhon – General Manager of Muscat Securities Market, focused on the executive steps to activate the linkage agreement between the two markets throughout the working sessions of interactive specialized team of implementing the electronic link project, and which included a number of brokers representing both markets.
During The forum an agreement has been signed between Tow brokerage firm Electronic Stock Brokerage company (llc) from Abu Dhabi, and National Securities Co. from Muscat.
Mr. Rashid Al Baloushi , Acting Director General of ADSM, who commenced the Brokers’ Forum, said: “This gathering is a necessity to develop methods of cooperation between the two markets with the aim of developing a common mechanism of action, including the creation and development programs as well as the steps to gain benefit from the services offered by the two markets for Omani and Emirati investors expressing his aspiration of having the investors of both countries gain the benefit of opportunities provided by the electronic linkage agreement between them.
Throughout his welcoming Speech, Mr. Al Baloushi expressed his thanks and appreciation for the unlimited cooperation shown by the management of Muscat Securities Market represented by their General Manager, Mr. Ahmad Bin Saleh Al Marhoon.
For his part, Mr. Ahmad Bin Saleh Al Marhoon General Manager of Muscat Securities Market expressed his faith and confidence that this forum which has been organized by ADSM management will support cooperation between the two markets to advanced stages of dual coordination aims at enhancing the rank of both markets on the map of the developed international financial markets.
The forum discuss a lot of issues as well as the important topics that have been reviewed during the panel discussions where they presented the legal and legislative frameworks for the linkage agreement in the first panel throughout a presentation given by Mr. Hani Al-Anani - Consultant in Muscat Securities Market. In addition the first panel consisted of detailed explanation given by Mr. Ghannam Al Mazroie manager of market operation and surveillance - Business Development Consultant in ADSM about the functional and technical frameworks for the electronic link that have the effective and essential role in facilitating the exchange of data and information between the two parties within a mechanism of action to ensure the safety of dealings between the two markets.
Mr. Ziad Dabbas - Adviser of the Abu Dhabi Financial Services and Mr. Mohamed Yassin - Managing Director of the Emirates Securities gave a presentation which highlighted investment opportunities provided by ADSM , the third session as well was devoted to review investment opportunities in various sectors that are traded in Muscat Securities Market.
The fourth and final session focused on several topics mainly to activate electronic link between brokerage companies affiliated to the both markets and cited some studies that have proved success in similar markets, such as Vinokurb as well as the famous experiment of Atus Euronext. At the end of the session the a questions dialog was devoted to review the opinions of both markets’ brokers and the importance of the involvement of everyone in the process of activating the electronic link between the ADSM and Muscat Securities Market.
Since the end of 2001, the number of listed companies traded on ADSM has grown fourfold; there are now nearly six times as many brokerage firms; the aggregate market capitalization of companies traded on the exchange is 20 times higher; there are 50 times as many shareholders registered and ADSM is a model emiratization employer with UAE national making up about 74% of staff.
