Edaa, MSX sign agreement to enable cross listing

Agreement signing ceremony

The Securities Depository Center Co. (Edaa) signed an agreement with Muscat Clearing and Depository Co. to enable the cross listing between the Kingdom of Saudi Arabia and the Sultanate of Oman.

In a statement, Saudi Exchange (Tadawul) pointed out that the agreement aims to facilitate the transfer of shares between the two markets for companies with dual listings.

Areas of cooperation include maintaining an updated record of securities ownership and exchanging information related to transactions executed by brokers, members, clients and other interested parties, the statement added.

This agreement comes in the wake of the memorandum of understanding (MoU) that was signed between Saudi Tadawul Group Holding Co. (Tadawul Group) and Muscat Stock Exchange in 2021 to exchange information and cooperate for the advancement of the Saudi and Omani stock markets.