Astana: Muscat Clearing and Depository Company (MCDC) and the Central Securities Depository of the Astana International Stock Exchange (AIS) have announced a new partnership with the signing of a memorandum of cooperation. This collaboration aims to enhance market liquidity and streamline trading mechanisms by enabling the cross-trading of Muscat Stock Exchange (MSX) and AIS-listed securities. The memorandum was signed during the Astana Financial Conference 2024 by the CEOs of both companies, Mohammed bin Saeed Al Abri and Ainur Aitkazina, respectively.
The main goal of the memorandum is to exchange scientific and practical knowledge and expertise in central depository, clearing, and settlement activities. By keeping up with internationally recognized methods and standards, both MCDC and AIS aim to enhance cooperation, conduct commercial transactions, and exchange information within legal frameworks. The agreement also focuses on improving the systems of central depository and registration of securities to better serve investors and market participants.
In a statement to the Oman News Agency, the CEO of MCDC emphasized that the memorandum will contribute to the infrastructure improvement of the stock exchange for both parties. This includes enhancing settlement and deposit services, as well as promoting visits, information exchange, and related studies. MCDC is committed to expanding and developing the capital market operations to ensure the growth and development of the Omani capital market through the utilization of top technical and technological practices.
On the other hand, Ainur Aitkazina highlighted that the MoU signifies a significant step towards smooth cooperation in settlement and depository services. By establishing new standards for market efficiency and liquidity, both MCDC and AIS seek to enhance regional market connectivity and dynamism. This collaboration is expected to increase investment flows and drive market integration in the region, offering new opportunities for investors and market participants.
MCDC, with an issued capital of OMR5 million, is largely owned by the Muscat Stock Exchange, holding about 79.88 percent of the company’s capital. The remaining 20.12 percent is owned by banks, brokerage firms, and investment companies. This partnership with the Astana International Stock Exchange is a strategic move for MCDC to expand its reach and strengthen its position in the global market, while also enhancing the overall efficiency and liquidity of both exchanges.
