It enables access to international financial markets
"Dubai Clearing" obtains the recognition of the European Securities and Markets Authority
Hamed Ali: "Dubai Financial Markets are strengthening their foundations, and their attractiveness to international investors is increasing."
Dubai Clearing, the first independent clearing company in the region, affiliated with the Dubai Financial Market, announced that it has obtained recognition from the European Securities and Markets Authority (ESMA), as a first-level central clearing company in a third country, to be the first clearing company outside of free zones. It has this recognition in the Middle East.
The Dubai Market said in a statement yesterday that this recognition enables Dubai Clear to expand its services and activities through the clearing members of the European Union at a time when the Emirate of Dubai is attracting great interest from international investors, thanks to its success in implementing its strategy to develop financial markets at a rapid pace. Which aims to enhance the growth and diversification of its financial market, and to attract foreign investments and dealers to it.
Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, said:
“Thanks to the direct supervision and guidance of the Capital Markets and Exchanges Development Committee, Dubai Financial Markets are strengthening their foundations, and increasing their attractiveness to international investors.”
He added: "With our recognition as a central clearing company, we are able to provide clearing and settlement services for all local and international transactions, which increases the attractiveness of Dubai's financial markets to international investors."
In turn, the CEO of the Securities and Commodities Authority, Dr. Maryam Al-Suwaidi, said, "This recognition reflects the strength of the regulatory frameworks for the financial markets in the UAE, and its commitment to the highest levels of effectiveness, risk management and adherence to global standards."
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