Dubai Financial Market and SIX Seek Mutual Growth Through Dual/Cross-Listing Opportunities

Dubai Financial Market (DFM), a publicly traded company based in the United Arab Emirates, operating in the financial market sector, and SIX, the Swiss Financial Market Infrastructure Group, have announced a cooperative agreement aimed at exploring and implementing initiatives to foster mutual growth and innovation in the global financial sector. The agreement also includes the participation of Dubai Central Securities Depository LLC (Dubai CSD) and Dubai Clear LLC under DFM.

This collaboration focuses on evaluating and implementing potential opportunities for dual/cross-listing of products. The objective is to share best practices and market data, simplify the process for investors to transfer shares between exchanges for cross-listing purposes, and enhance the fungibility of shares. Additionally, the cooperation aims to expand market access and increase investment opportunities for participants in both regions and markets. SIX and Dubai CSD will work together to establish Central Securities Depository (CSD) links to facilitate share fungibility and cross-border transfers.

Hamed Ali, CEO of DFM and Nasdaq Dubai, stated: "The strategic partnership between DFM and SIX exemplifies our shared commitment to driving innovation and fostering growth in the global financial landscape. Through collaborative initiatives, we aim to unlock new opportunities, enhance market efficiency, and strengthen ties between our vibrant financial ecosystems."

Bjørn Sibbern, Global Head Exchanges and Member of the Executive Board of SIX, added: "SIX – already providing a very international environment and being home of many multinational companies – continuously strives to expand and improve its range of international products and services. With the collaboration with Dubai Financial Markets, we are excited to look at broadening the options of companies to raise capital and tap into additional, deep pools of capital as well as facilitating cross border transfers and share fungibility."

Furthermore, the two exchanges will collaborate to explore opportunities in areas such as market data and post-trade services, SIX noted in the announcement.