Market access alone will not bring investors, FEAS chief warns

Muscat: Making it easier to trade across stock exchanges is one thing. Persuading investors to commit their money is another. That distinction emerged at the opening of ConFEAS 2026 in Muscat on Tuesday, where exchange leaders discussed the growing links between financial markets and the conditions needed to turn those connections into sustained investment. Radu Hanga, Chairman of the Federation of Euro-Asian Capital Markets (FEAS) and President of the Bucharest Stock Exchange, warned that better access to markets would achieve little without stronger investor confidence, corporate governance and reliable information.“Connectivity alone, however, does not create lasting liquidity,” he told delegates.

His remarks carry particular significance for Oman, which has recently been placed on FTSE Russell’s Watch List for a possible upgrade to Secondary Emerging Market status. Hanga congratulated Oman on the development but drew attention to a challenge that extends beyond market classification. Investment opportunities, he said, matter only when investors can understand them and participate effectively.He argued that exchanges cannot build confidence on their own. Listed companies, brokers, regulators and other market institutions all have a role in creating an environment in which investors are willing to participate.

The message offered a useful counterpoint to remarks by Muscat Stock Exchange (MSX) Chief Executive Officer Haitham al Salmi, who highlighted the progress being made in connecting exchanges across different regions. Al Salmi pointed to a cross-border trading platform linking more than eight markets, most of them FEAS members, as an example of what cooperation between exchanges can achieve.

The arrangement, he explained, allows brokers to access participating markets across Central Asia and Europe without requiring those markets to abandon their existing regulatory frameworks. For exchanges operating under different rules and market structures, such arrangements can reduce barriers to participation. Whether they also lead to deeper trading activity depends on factors beyond the technology itself. Al Salmi said the increasingly unpredictable economic and geopolitical environment had made timely decisions essential for market operators.“Decisions have to be fast, have to be studied,” he said, calling for a more proactive approach to strengthening the resilience of capital markets.

He noted that FEAS brings together exchanges from Central Asia, Europe and the Middle East, creating opportunities for markets at different stages of development to learn from one another.The discussion comes at an important point for MSX. Oman’s inclusion on FTSE Russell’s Watch List has brought renewed attention to the accessibility and investability of its equity market, but a potential upgrade is not the same as an immediate increase in foreign investment.International fund managers must still assess the shares available to purchase, the ease of entering and exiting positions, trading liquidity and the quality of information disclosed by listed companies. These considerations help explain why Hanga placed particular emphasis on governance and investor education alongside technological development.For companies seeking capital, he said, sound governance and respect for shareholders could help attract a more stable investor base. For investors, technology could improve access to opportunities and information, but the wider market infrastructure must also command trust.

FEAS Secretary General Konstantin Saroyan, who also addressed the opening ceremony, urged market participants to recognise opportunities even when they arise from difficult economic circumstances.He described Oman as a gateway linking regions and industries and said the conference offered a platform for exchanges and financial institutions to exchange experience and strengthen cooperation. Organised by FEAS under the auspices of Qais bin Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) and hosted by MSX at the W Muscat Hotel, the sixth edition of ConFEAS brings together executives from stock exchanges, investment institutions, banks and financial technology companies.

The programme includes discussions on Oman’s capital market and regional cooperation, access to emerging markets, technological developments and investor relations.Among the scheduled participants are representatives of BlackRock, Jefferies, Nasdaq, the Abu Dhabi Securities Exchange and the Egyptian Exchange, alongside Omani financial institutions and listed companies.The conference also brings together investor relations and research specialists from Asyad Shipping, Oman India Fertiliser Company, OQ Exploration and Production, Bank Muscat and United Securities. Their participation places another issue on the agenda: how companies communicate their financial performance and prospects to investors who may be unfamiliar with the markets in which they operate.

For Oman, the challenge now is not simply to make its stock market more visible internationally. It is to ensure that greater visibility is matched by sufficient liquidity, accessible shares and the confidence needed to attract investors over the longer term.