Dubai Financial Market Officially Launches Dubai Clear, Dubai CSD

Dubai Financial Market Officially Launches Dubai Clear, Dubai CSD

The Dubai Financial Market (DFM) (PJSC) today officially launched its new subsidiaries, Dubai Clear (L.L.C.) and Dubai CSD (L.L.C.).. Dubai Clear is the region's first independent company central counterparty (CCP) for equity clearing and Dubai CSD, the UAE's first independent central securities depository (CSD) company.. Dubai Clear and Dubai CSD have received all regulatory approvals from the Securities and Commodities Authority (SCA) and Dubai's Department of Economic Development (Dubai Economy).. The launch of Dubai Clear and Dubai CSD is in line with DFM's strategy to meet local and global regulatory requirements by ensuring robust market infrastructure.. We would like to extend our sincere thanks to the regulatory authorities including the SCA and Dubai's Department of Economic Development (Dubai Economy) as well as various market participants and advisory firms for their support and cooperation with us to accomplish this achievement.". Dubai Clear will provide the Central Counter Party (CCP) function, making it one of the first fully operational independent CCP company for equities in the region.. Dubai Clear and Dubai CSD are incorporated under the umbrella of the Dubai Central Clearing & Depository Holding (DCCD) (L.L.C), a holding company for post-trade services fully owned by DFM..