ADSM signs mou with karachi stock exchange.Abu Dhabi Securities Market Abu Dhabi Securities Market (ADSM) (Arabic: سوق أبوظبي للأوراق ألمالية) is a stock exchange in Abu Dhabi, United Arab Emirates (UAE). (ADSM (ADSTAR Distributed Storage Manager) The former name of a comprehensive software system for backup, HSM and disaster recovery from IBM. It backed up data from more than 25 client and server platforms to an ADSM server running on any IBM platform, HP-UX, Solaris ) and Karachi Stock Exchange Karachi Stock Exchange The major securities exchange of Pakistan. (KSE KSE Karachi Stock Exchange KSE Kuwait Stock Exchange KSE Korea Stock Exchange KSE Kernel Scheduler Entities KSE Kill Switch Engage (band) KSE Kuat Systems Engineering (Star Wars) ) signed today a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) signed by Mr. Adnan Afridi, Managing Director of KSE, and for ADSM by Mr. Tom Healy Tom Healy was an Irish sportsperson who is best remembered for playing hurling with Thurles Sarsfields in the 1880s. Tommy Healy was born in Coolcroo, County Tipperary. He was noted as a fine sportsperson and he played hurling with his native Thurles club in the 1880s. , Director General. This MoU is designed to facilitate procedures of cross-listing of companies on ADSM and KSE. In addition, this MOU will open channels of cooperation between both exchanges and the exchange of expertise concerning rules and regulations applied, investor awareness programs, as well as the latest techniques and developments in the financial markets. Mr. Tom Healy, DG of ADSM said, "This MOU represents a significant step in bringing our capital markets closer together, to our mutual benefits. We look forward to working with KSE from now on in developing mutual business." Mr. Adnan Afridi, Managing Director of KSE, welcomed the commitment of ADSM and KSE to cooperate and share expertise. He added that this MOU will strengthen the coordination between both markets which in turn will help and facilitate the process of enhancing surveillance and investors' protection as well as the development of financial markets according to the best international practices that will lead to a professional markets. The Pakistan Business Council arranged the MOU between the KSE and ADSM playing the vital role in bringing the two organizations together with the object to develop the capital market. [c] 2008 Al Bawaba (www.albawaba.com) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion