To recognize the central clearing companies in the UAE and adherence with requirements which equal their counterparts in the European markets

H.E. Sultan bin Saeed Al Mansoori: the clearing regulations issued by the SCA attract the investors to the market and boost the UAE competitiveness

The Securities & Commodities Authority signed a memorandum of understating with the European Securities and Markets Authority (ESMA) to exchange information about the continuous commitment of the role of clearing in the UAE, which is subject to the control and supervision of the SCA, to ensure technical and legal recognition of the clearing firms established in the UAE local markets. This is the second MoU signed under the umbrella of the ESMA. The first MoU was related to the mutual recognition of the alternative mutual funds individually with each European authority.