UAE stock exchanges merger seen imminent - sources | Reuters

A merger of the United Arab Emirates' two main bourses is imminent, two people familiar with the matter said on Tuesday, with the exchanges seeking to create a single market as trading revenue slumps.

The Abu Dhabi Securities Exchange (ADX) is seen as the driver of a merger with its domestic rival, the Dubai Financial Market (DFM), the sources said.

"The merger is being discussed at the highest level and the outcome is awaited imminently," an ADX official told Reuters, declining to be identified because the deal has yet to be finalised. "It would be good for both markets, instead of them competing against each other. This is a sign of consolidation in the UAE."