The UAE stock markets yesterday moved a step closer to emerging market status after a decision was made to enforce a key settlement system by the end of the month.
The Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) will adopt the delivery versus payment system on April 28, the country's regulator, the Emirates Securities and Commodities Authority, said yesterday.
With the delivery versus payment (DvP) system, securities are delivered and cash received on the same day. It will help to minimise the risks from the delivery and receipt of securities, the authority said.
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