DUBAI: European Union’s recognition of DFSA’s 'central counterparty' frameworkSource: www.export-egypt.com 1/11/2017, Location: Middle East |
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Nasdaq Dubai has welcomed the announcement that the regulatory framework of Dubai Financial Services Authority, DFSA, for central counterparties has been classified as equivalent to that of the European Union.
Nasdaq Dubai is the DFSA-licensed central counterparty, CCP, for equities and derivatives trading in the Dubai International Financial Centre, DIFC.. Commenting on the announcement, Hamed Ali, Chief Executive of Nasdaq Dubai, said, "This international acknowledgement of the high calibre of DFSA’s regulatory regime will encourage further cross-border investment in Nasdaq Dubai equities and equity futures.. As the region’s international financial exchange, we are taking steps towards increasing participation in our market by overseas clearing entities.. The classification of the DFSA’s CCP framework was made by the European Commission, with the aim of reducing the regulatory burden of participating in the market.. Nasdaq Dubai’s CCP services reduce systemic trading risk for market participants, who already include a substantial international investor base.. Together with its determination about the DFSA, the European Commission announced equivalence decisions for the regulatory frameworks for CCPs in a number of countries. The UAE is the only GCC nation among these. |
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