MSX
Completes Regulatory, Operational Frameworks for Connectivity with Regional,
International Markets

Muscat, 19 Jan 2026 (ONA) — Muscat Stock Exchange (MSX), in collaboration
with the Tabadul Hub, announced the signing of a series of agreements with
regional and international financial markets, namely the Kazakhstan Stock
Exchange (KASE) and the Astana International Exchange (AIX).

The
agreements complete the contractual, regulatory, and operational frameworks
required to connect Muscat Stock Exchange with these markets through the
Tabadul Hub. In parallel, an agreement was concluded between Muscat Clearing
and Depository (MCD) and the Tabadul Hub to facilitate the clearing and
settlement of transactions executed by licensed Omani brokerage firms.

On
this occasion, Haitham Salim Al Salmi, CEO of MSX, stated that this step
represents a continuation of the MSX’s approach to strengthening its regulatory
and operational infrastructure. He noted that it reflects MSX’s commitment to
enhancing the integration of the Omani market with regional and international
trading ecosystems, contributing to improved market efficiency, expanded
investment options, and sustainable growth over the medium and long term.

The
signing ceremony was attended by senior executives and representatives of
relevant markets and institutions, including the Abu Dhabi Securities Exchange
(ADX) as the operator of the Tabadul Hub, alongside representatives from the
Kazakhstan Stock Exchange (KASE) and Astana International Exchange (AIX) and
their respective central securities depositories , in addition to the Muscat
Clearing and Depository (MCD) and a number of brokerage firms.

In this context, Abdullah Salim Al Nuaimi, CEO of the Tabadul Hub, explained
that Tabadul continues to undertake its role as a regional enabler of market
connectivity through an integrated operating model that balances expanded
market access with the highest standards of governance and compliance, enabling
brokerage firms and investors to benefit from a secure and interconnected
trading environment.

Tabadul
Hub ecosystem currently includes several exchanges, namely Abu Dhabi Securities
Exchange, Muscat Stock Exchange, Kazakhstan Stock Exchange, Astana
International Exchange, the Armenia Stock Exchange, and the Bahrain Bourse.The signing of these agreements by MSX and MCD comes as part of completing
their integration with the KASE and AIX through bilateral contractual arrangements
that regulate the operational relationship and clearly define roles,
responsibilities, and working mechanisms.

In
this regard, Adil Mukhamejanov, the Chairperson of KASE stated that completing
the contractual arrangements with Muscat Stock Exchange reflects an advanced
level of operational readiness between both sides and represents an important
step toward strengthening connectivity between the capital markets of Central
Asia and the Middle East, contributing to broader investment access and increased
investor interaction.

The
agreements signed between MSX and both KASE and AIX cover the regulation of
remote trading mechanisms through the Tabadul Hub. These arrangements enable
licensed brokerage firms at MSX to access the connected markets in accordance
with clear registration and accreditation procedures, while applying the host
market’s rules related to trading, disclosure, and supervision, and preserving
the regulatory independence of each market.

In this context, Zharas Musabekov, the CFO of AIX affirmed that this step
represents a pivotal milestone in the operational integration of connected
markets, contributing to a more open and efficient trading environment and
enhancing the attractiveness of participating markets to regional and international
investors.

Additionally,
the agreements signed between MCD and the Tabadul Hub to governing the rules
and procedures for the clearing and settlement of securities under the Remote
Trading Members framework across participating markets through Tabadul. The
agreement regulates the clearing and settlement processes for transactions
executed by Omani members in participating markets via the Tabadul Hub, as well
as transactions executed by non-Omani members from all Tabadul-connected
markets trading on MSX. It further defines the role of MCD in this process.

In
this context, Mohamed Said Al Abri, CEO of MCD, stated: “This agreement
represents a strategic step toward expanding access to regional markets and
opening new channels for foreign investment. It also enhances investor
confidence through compliance with internationally recognized capital market
standards. The agreement establishes a clear framework for collateral
management, trade settlement, and trading limits, while completing the
regulatory foundations governing clearing and depository operations and
defining the core infrastructure frameworks of the capital market. This ensures
the protection of the rights of all relevant parties. Moreover, the agreement
contributes to opening access to new markets, while safeguarding operational
integrity and mitigating risks.”

Under
these arrangements, clearing and settlement operations will be executed through
coordination between MCD and the clearing and depository centers of the KASE
and AIX, in accordance with the rules applicable in each market, ensuring the
seamless movement of securities and cash settlements across connected markets.

Within
the broader strategic vision, Haitham Al Salmi, CEO of MSX, emphasized that
completing connectivity through the Tabadul Hub goes beyond being an
operational step, forming part of a comprehensive strategic vision aimed at
strengthening the position of Oman’s capital market within regional and
international market ecosystems. This vision seeks to create a more open and
diversified investment environment that supports investment attraction and
enables brokerage firms and investors to benefit from broader opportunities,
while maintaining the highest levels of governance and compliance, in line with
Oman’s efforts to develop the financial sector and enhance its role in
supporting the national economy.

This
development is expected to have a positive impact on market depth and investor
base diversification by enabling greater opportunities for cross-market trading
and strengthening interaction among participating markets, thereby supporting
sustainable growth and reinforcing confidence in the regulatory and operational
infrastructure of the capital market.

—Ends/AG