Abu Dhabi Securities Exchange (ADX) agreed to be the sole entity responsible for clearing UAE securities traded in Saudi Arabia, as part of efforts to encourage the practice of dual-listing of stocks on regional exchanges. ADX signed a memorandum of understanding with the Securities Depository Center Company (Edaa) in Saudi Arabia, which wholly owns Tadawul. Under the deal, ADX will exclusively provide custody, registration, clearing and settlement services for UAE securities traded on the Tadawul, the parties said in a statement on Saturday. The agreement is intended to strengthen bilateral cooperation in the dual listing of securities in Saudi and UAE financial markets. The MoU allows for the exchange of information and data relating to stock exchange transactions between the Tadawul and ADX, and permits the transfer of securities and updating of securities ownership registers in each country, the two parties said.