Copying and distributing are prohibited without permission of the publisher
Dubai bourses set for post-trade overhaul
21 February 2017
Nasdaq Dubai shares a trading a post-trade platform with DFM
Dubai’s leading stock exchanges are set for a
pre-and post-trade technology upgrade after signing a deal with
Two venues, Dubai Financial Market (DFM) and Nasdaq Dubai,
will be equipped with a new multi-asset trading technology
engine and cash equities clearing functions.
A statement on Tuesday said the infrastructure renovation is
expected to be completed by early 2019.
It will pave the way for various enhancements at DFM,
including central counterparty (CCP) clearing.
Nasdaq Dubai - which launched the first equity
derivatives market in the UAE in 2008 - already shares
technology platforms with DFM, which owns two thirds of
Borse Dubai currently owns one third of the shares and was
set-up in 2007 to consolidate both exchanges.
Nasdaq OMX Group is a shareholder of DFM.
Attracting international capital is core objective for
financial officials Dubai.
Post-trade enhancements are a key step towards achieving
James Martin, regional manager, EMEA, market technology,
Nasdaq, said the deal gives a "clear signal" to the
world’s capital markets that Dubai is dedicated to
take their markets to the next level.
"As Dubai continues to strengthen itself as a major
international financial center, it requires transforming
how its markets operate and perform to meet and exceed
international standards under local market conditions,
especially in the area of risk management and clearing," he