Dubai Clear becomes a member of CCP12 30 June 2021UAE Reporter: Bob Currie
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Dubai Clear has been admitted as primary member of CCP12, the Global Association of Central Counterparties, at the Association’s 2021 annual general meeting.
The CCP was formed in April 2020 as the first CCP to clear local equities in the UAE and the Gulf Cooperation Council (GCC) region.
Utilising technology developed by Nasdaq, Dubai Clear provides clearing services for cash securities and derivatives, providing an integrated equities product suite with real-time risk management and automated trade settlement processing.
Since its launch, Dubai Clear indicates that it has provided clearing services for securities and derivatives with aggregate value of AED 18.60 billion (US$5.1 billion).
CCP12 now represents 36 primary members and two observer members which operate more than 60 CCPs around the world.
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