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How to become a member

Nasdaq Dubai offers brokers the opportunity to connect their clients to exciting investment options on the region’s international exchange.


The process of becoming a Nasdaq Dubai Member is straight forward. There are three options for connecting to the exchange.

Scope of activity / Type of Broker Trading Clearing and settlement Clearing and settlement for others
Trading Member (TM) Yes - -
ndividual Clearing Member (ICM) Yes Yes -
General Clearing Member (GCM) Yes Yes Yes
  • A TM simply executes trades. They are cleared and settled by a General Clearing Member.

  • An ICM executes trades. It can also clear and settle those trades (but not others).

  • A GCM executes trades and can clear and settle them, as well as clear and settle the trades of Trading Members.

Timeline

Brokers outside the Dubai International Financial Centre (DIFC), including UAE and overseas brokers regulated by the Emirates Securities and Commodities Authority (SCA), can apply to join Nasdaq Dubai as a Member if they are Recognised by the DFSA.

Brokers inside the DIFC that are Authorised by the DFSA need only inform the Case Officer at the DFSA about their intention to become a Member of the exchange, in addition to submitting membership application documents to Nasdaq Dubai.

DFSA Recognition

  • Authorised by DFSA, or regulated by other financial regulator if outside of DIFC
  • Notify DFSA / home regulator of intention to become Nasdaq Dubai Member
  • If outside of DIFC, complete the DFSA Rec1 Application for Recognised Member status and provide documents requested

Nasdaq Dubai Application

  • Nasdaq Dubai Membership Application and supporting documents
  • Copies of regulatory licence and constitutional documents
  • Policy documents - Compliance / AML / Operations / Risk
  • Regulatory history
  • Audited financial statement
  • USD / UAE / SAR Settlement account details with one of Nasdaq Dubai Settlement Banks
  • Passport copies of the Board; and CVs and passport copies of key personnel and authorised signatories
  • Minimum Bank Guarantee / cash collateral (applicable only for equity members)

IT Connectivity

  • Establish IT Connectivity to Nasdaq Dubai
  • Complete trading / clearing conformance tests

Approval

  • Congratulations, you can now start trading on Nasdaq Dubai
  • Appointed Trading Manager should pass Trading Manager examination within 3 months of Approval

Membership on Nasdaq Dubai

A joint press release will be issued with a welcome message on Nasdaq Tower in Times Square, New York