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‎Oman’s MSX ready to hitch international indices next year: CEO

Oman's MSX ready to hitch international indices next year: CEO

Haitham Al Salmi, CEO of Muscat Stock Substitute (MSX)


Muscat Stock Substitute (MSX) is technically ready to hitch international indices and emerging markets by 2025, CEO Haitham Al Salmi educated Argaam on the sidelines of the HSBC GCC London Conference.

The stock market has applied emerging market standards and settlements, and have to easy take care of growing the market cap of listed companies, free floats and traded label over the coming years, Al Salmi necessary.

He added that MSX objectives to hitch the look list over the next two years.

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The market infrastructure and the exit notion of Oman Funding Authority, the main shareholder of most authorities companies, will pressure the stock change within the coming length.

Concerning the twin itemizing with the Saudi Substitute (Tadawul), Al Salmi acknowledged the technical infrastructure is ready for dual itemizing of companies listed on Tadawul, that can possibly well simply pressure the buying and selling teach.

Numerous MSX-listed stocks trade at lower than their guide label ensuing from lack of liquidity, which makes them grand stunning, the CEO acknowledged, noting that this anguish will seemingly be handled by the twin itemizing.

Tabadul platform hyperlinks MSX with Abu Dhabi, Bahrain, and Kazakhstan markets, because it permits investors to trade stocks all around the borders seamlessly.

The platform encourages the emergence of licensed market makers and the expansion of their industry all over borders. It furthermore stimulates research for listed companies within the connected markets.

MSX objectives to diminish the form of apps that aid person investors within the Sultanate to one app. Thus, two separate apps, Muscat Clearing & Depository and Muscat Stock Substitute, will merge into one to facilitate investor expertise.

The second section will allow offering buying and selling companies and products from brokers thru the platform, which is portion of MSX’s efforts to invent an infrastructure for such solutions. It may possibly embrace facets corresponding to memoir opening, buying and selling, transaction settlement, and fairness administration.

Al Salmi underlined the necessary position of MSX in attaining Oman Vision 2040 objectives by offering a platform for financing personal sector projects, facilitating the participation of the personal sector in authorities privatization projects, promoting economic diversification, and attracting international investments.

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