MOU to explore the establishment of the
1. MOU signed with
2. Enter into discussions concerning the establishment of a regulated exchange in the
3. The Second Exchange will seek to trade a variety of financial products with an initial focus on mining Issuers and metals (commodities) trading in the
4. Tapping pent up demand for issuer listing and commodities trading.
The Core objective is to explore the establishment of a second regulated exchange that allows for trading by participants of financial products including securities, bonds, warrants, exchange traded products, derivatives, and commodities, in the
The initial objective is to focus on the financial products associated with Mining issuer securities and Metals (Commodities) exchange.
Secondary objectives include expanding the financial products into other areas where licensing permits.
The parties will work towards delivering a business plan, agree on a financial model and agree on potential joint venture agreement terms.
If the arrangements under the MOU are successful it would be expected that a Joint Venture agreement would be entered into which will be capitalised appropriately to do all things necessary to acquire a Market Operator Licence in the
The parties believe that there is an untapped pool of potential issuers and those wishing to trade commodities on the exchange.
NSX, via its wholly owned subsidiary,
Abilitii will provide management, government and market contacts and capitalisation to the joint venture should that eventuate after the MOU exploratory work is complete.
Managing Director, NSX Limited
Mr Mohmmed,Deputy Chairman, Abilitii, stated that "Abilitii is honoured with this agreement, which aims to support the program's strategy to transform the Kingdom into a leading industrial power, increasing the economic impact of the mining sector and the sustainability of its growth, and creating an attractive investment environment, in a way that contributes to the goals of 2030 Vision.
About Abilitii
The Group aims to become a leader in selected sectors by building businesses in partnership with international firms to achieve a dominant regional position, these sectors include infrastructure, water, power, petrochemicals, ports, airports, mining, technology, food, industrial manufacturing, education, healthcare, entertainment, hospitality, financial services, logistics.
To view the presentation, please visit:
https://abnnewswire.net/lnk/TP03URND
About
Contact:
T: +61-2-8378-6400
WWW: www.nsx.com.au
Copyright (C) 2021 ABN Newswire. All rights reserved., source