Dubai Financial Market (DFM) has received the official approval of the Securities and Commodities Authority (SCA) to establish its new Depository Services Company, Dubai Depository, as the first independent company in the field of central securities depository services in the UAE. Central Deposit issued in 2018.
It said in a statement yesterday that the establishment of Dubai Depository is part of a large-scale reorganization of post-trading services in the market.
According to the statement, Dubai Depositary is currently preparing its operational frameworks to formally commence its operations in the next phase, providing investors with a variety of services related to securities depository activity.
Essa Kazim, Chairman of the Dubai Financial Market Company, said: “We are delighted to announce today that we have been officially licensed by Dubai Securities and Commodities Authority (DSA) as a first step to implement a wide-ranging plan to develop and reorganize post-trading services in line with international best practices. ».