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Regulatory Framework Overview

Nasdaq Dubai recognises that public confidence in its marketplace is the key to its success. Its regulatory framework is comparable with those in New York, London, Hong Kong and other international financial centres.

The exchange’s independent regulator, the Dubai Financial Services Authority (DFSA), operates to the highest international standards. The DFSA maintains the Official List of Securities and is also responsible for the approval of all Issuer Prospectuses.

Nasdaq Dubai itself regulates a number of activities relating to its market through:

  • Rules which regulate the process which companies must follow if they wish to have their securities admitted to trading. See Business Rules.

  • Rules which regulate the obligations of companies after their securities have been admitted to trading (e.g., continuous disclosure rules) – also covered by the Business Rules.

  • Rules which regulate the process which an entity must follow in order to become a Member of Nasdaq Dubai. See Business Rules.

  • Rules which regulate the behavior of Members on the market operated by Nasdaq Dubai and the obligations which Members owe to their clients – also covered by the Business Rules.

  • Rules which regulate Clearing and Settlement procedures – also covered by the Business Rules.

  • Rules that set out Nasdaq Dubai's disciplinary and appeals procedures – also covered by the Business Rules.

Nasdaq Dubai has been granted a licence by the DFSA to operate as an Authorised Market Institution (AMI) (under the DIFC Regulatory Law), to provide the financial services of operating an exchange and operating a clearing house. The exchange is located in the Dubai International Financial Centre (DIFC), which has an independent commercial legal system based on English law.

Nasdaq Dubai is licensed and prudentially supervised on an ongoing basis by to operate as a Central Counterparty (CCP) by DFSA with respect to its services provided in accordance with domestic rules and regulations that are consistent with the CPSS-IOSCO[1] Principles for Financial Markets Infrastructures.

The Principles for Financial Market Infrastructures requires that Financial Market Infrastructures (FMI) provide relevant information to participants, relevant authorities and the broader public. In particular, Principle 23 on the disclosure of rules, key procedures and market data states that a FMI should provide sufficient information to enable participants to have an accurate understanding of the risks and costs they incur by participating in the FMI. The following document has been prepared in accordance with Principle 23.


[1] Committee on Payments and Settlement Systems (CPSS) and the International Organization of Securities Commission (IOSCO)