Dubai Clear, a subsidiary of the Dubai Financial Market (DFM), and Nasdaq Dubai, the leading international exchange in the Middle East, have officially received Tier 1 Third Country Central Counterparty (TC CCP) status from the European Securities and Markets Authority (ESMA). The classification will take effect on December 31, 2025.

This major achievement makes Dubai Clear and Nasdaq Dubai the first and only central clearing counterparties (CCPs) in the Middle East and North Africa to obtain Tier 1 recognition from ESMA. It marks a key milestone in the evolution of the UAE’s financial market infrastructure and reinforces Dubai’s position as a global hub for flexible and internationally aligned post-trade services.

Strengthening Ties with the EU Financial Market

Tier 1 classification enables Dubai Clear and Nasdaq Dubai to expand their clearing operations to include participants and institutions from the European Union as members in their post-trade services. This enhances cross-border connectivity between capital markets in Dubai and the EU, strengthening Dubai’s role as a gateway between regional issuers and international investors.

The ESMA’s recognition confirms that both entities operate under regulatory frameworks aligned with the European Market Infrastructure Regulation (EMIR). Dubai Clear is regulated by the Securities and Commodities Authority (SCA) of the UAE, while Nasdaq Dubai falls under the supervision of the Dubai Financial Services Authority (DFSA). This reflects the strength and maturity of Dubai’s regulatory environment and its compliance with global standards in risk management and market oversight.

Executive Remarks

Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, commented:

“This achievement reflects the progress Dubai has made in building a financial market infrastructure that earns the trust of investors locally, regionally, and globally. The Tier 1 classification strengthens our ability to connect and collaborate with global institutions, supporting our broader strategy to attract capital from across the world.”

Fatma Bin Qedad, General Manager of Dubai Clear, added:

“Securing Tier 1 status from the European authority is a significant step in our international growth journey. It enhances our capability to support cross-border activities and offer efficient, flexible, and globally compliant clearing services.”

A Trusted Post-Trade Ecosystem

As licensed central counterparties in Dubai, both Dubai Clear and Nasdaq Dubai play a vital role in maintaining the strength and integrity of the post-trade infrastructure in the emirate. This recognition supports the long-term development of Dubai’s capital markets and highlights the growing collaboration between regulators in the UAE and Europe.

It also affirms Dubai’s ongoing commitment to transparency, financial stability, and the development of a financial market infrastructure that meets the highest international standards.