UAE central bank assumes role of settlement and clearing agent | Reuters:
"The Central Bank of the United Arab Emirates has assumed the role of settlement and clearing agent for market transactions, the head of the securities regulator said. Previously, First Abu Dhabi Bank and Emirates NBD played that role for the Abu Dhabi Securities Market (ADX) and the Dubai Financial Market (DFM) respectively. “It has started with ADX and will be followed by DFM,” Obaid al Zaabi, chief executive of Securities & Commodities Authority (SCA) said, adding the move was in line with the practices of developed markets."
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