Armenia and Kazakhstan stock exchanges  sign MoU to  enhance regional  capital market integration within Tabadul Hub platform

ArmInfo.  The Armenian Stock Exchange (AMX) and the Kazakhstan Stock Exchange (KASE) signed a memorandum of understanding. The agreement marks an important step toward deeper cooperation between the two exchanges and further integration of regional capital markets through the Tabadul Hub initiative launched by ADX, creating new opportunities for cross-border collaboration and market connectivity. 

According to a statement from the Armenian Stock Exchange, the  document was signed between AMX CEO Hayk Yeganyan and Yermek  Mazhekenov, Advisor to the Chairman of the Management Board for  Business Development at KASE.  The arrangements adopted under the  agreement allow licensed brokerage firms to access the connected  markets according to clear procedures for registration and  accreditation at AMX, while applying the host market's trading,  disclosure and surveillance rules and maintaining the regulatory  independence of each market. 

Interaction within the Tabadul Hub will provide remote access to  markets of both countries. The Memorandum regulates the contractual,  regulatory and operational aspects of the cooperation. Integration  with the Tabadul Hub opens new opportunities for market participants  and is an important step in the international expansion of the AMX  ecosystem.

It is worth noting that in May 2025, the Armenia Securities Exchange  officially joined Tabadul, the regional digital exchange platform  operated by the Abu Dhabi Securities Exchange (ADX). Tabadul Hub is  an exchange platform based on a mutual market access model. It  provides a digital exchange network for trading between market  participants—members of exchanges at the regional and global levels.  Securities on Tabadul are traded in the local currency of the  respective exchange, and in some cases, in the specified currency of  the traded asset, with no minimum amount limits. Several exchanges  are registered on Tabadul:  the Abu Dhabi Securities Exchange (ADX),  the Bahrain Exchange, the Muscat Securities Exchange, and the Astana  International Exchange (AIX). Several other exchanges, including  Armenia's AMX, are in the process of joining Tabadul. The creation of  such a platform is highly beneficial for Armenia, as the platform's  participating exchanges include major investors represented by  international banks, who will thereby gain direct access to trading  on the AMX Armenian Exchange's foreign exchange and debt markets.   Importantly, the clearing system for trading with counterparties for  Armenian participants is located in Yerevan. The agreements with ADX  to join the Tabadul Hub are the first step toward opening Armenian  exchange platforms to external investors.