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.
