The Muscat Securities Market (MSM) and Istanbul Stock Exchange (ISE) have entered into a bilateral agreement to list each other’s companies and to trade in on the securities of both markets, reported Zawya.com.
A memorandum of understanding (MoU) has been signed by representatives of both exchange houses. While the MoU basically aims at enhancing bilateral relations between the two exchanges, it also focuses on improving cross-border trading as well.
Reportedly, both exchanges will explore possibilities of establishing joint indices and establishing some exchange traded mutual funds (ETMF) on this joint trade indices and trade among both exchanges.
Ahmed Saleh al Marhoon, director general of MSM, said: “There are lot of possibilities and opportunities that MSM could benefit from ISE. We have been sending some of our employees for training and getting exposure from the ISE. This MoU will be instrumental in strengthening bilateral relations.”
Huseyin Erkan, chairman and CEO of ISE, said: “Our investors and Omani investors are interested in each other’s markets. This will definitely help us increase co-operation.”
