Nasdaq Dubai provides an expanding range of products and services for the benefit of issuers and other market participants.
Securities that are admitted to trading on Nasdaq Dubai’s market are held, on behalf of their owners, in the exchange’s Central Securities Depository (CSD). CSD services include:
Settlement – The CSD offers settlement of securities that are traded and cleared on Nasdaq Dubai’s market.
Safekeeping – Nasdaq Dubai’s robust legal framework underpins the safekeeping of assets held in its CSD. These assets are registered in the name of Nasdaq Dubai Guardian Liimited as bare nominee on behalf of Nasdaq Dubai. Nasdaq Dubai Guardian Limited is a wholly owned subsidiary of Nasdaq Dubai Limited that was established to segregate assets held in the CSD from other assets and liabilities of Nasdaq Dubai.
Corporate actions – The CSD offers issuers a range of services in processing corporate actions (relating to dividends, Interest, bonuses, consolidation, etc.) regarding securities held in the CSD.
Other services – The CSD has strong links with international CSDs including Clearstream and Euroclear. These facilitate cross border transfers and dual listings.
For trades executed on exchange, efficient mechanisms must be in place to transfer the shares to the buyer, and the money to the seller. These transfers, known broadly as clearing and settlement, take place through Clearing Members, which make use of infrastructure provided by Nasdaq Dubai. In 2012, Nasdaq Dubai enhanced the services provided by its clearing and settlement systems. The exchange operates a T+2 settlement cycle for equities, which means that trades should normally be settled two days after a trade has been agreed. For further information see Clearing & Settlement.
Directors Desk is a comprehensive web-based solution designed to improve Board communications and effectiveness while minimising time and paperwork. As well as keeping Board members fully informed, it saves time and money. It provides a complete suite of tools in one platform, eg. shared calendar, online meeting materials, secure email, votes, questionnaires and many unique advanced tools. Through its web-based platform, Directors Desk is accessible 24/7 from any place worldwide.
Nasdaq Dubai provides listed entities with an efficient email-based software system, CANDI, through which they can make disclosures to the market as required by DFSA regulation. Such disclosures include financial results and other information of interest to investors. Disclosures sent through CANDI appear on Nasdaq Dubai’s website and can be sent directly to brokers and the media. See the full features and benefits of CANDI.