BAKU, Azerbaijan, November 20. Baku Stock Exchange (BSE) plans online connection of foreign brokers to Tabadul Hub, Deputy CEO of the Executive Board–Chief Commercial Officer of the BSE Ogtay Gasimov said on the second day of the 9th International Banking Forum held in Baku today, Trend reports.
"The main goal we want to achieve is to provide online connections with foreign brokers. That is, legal requirements are demanded to be updated to allow brokers to join the Tabadul Hub online," he emphasized.
Gasimov pointed out that this also calls for some heavy regulatory lifting.
"Currently, we are working together with the regulator in this direction. The online connections with foreign brokers will be possible by the middle of next year," he added.
The Abu Dhabi Securities Exchange launched Tabadul Hub in July 2022. The platform is the first digital exchange center in the region and is based on the mutual market access model. It provides a digital exchange network for trading between member exchanges at the regional and global levels. In its entirety, Tabadul aims to improve cooperation and increase liquidity in the participating markets by enabling trading across the markets.
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