The Dubai Financial Market subsidiary Dubai Clear has guaranteed trade settlements amounting to 15.6 billion dirhams ($4.2 billion) in its first year of operations, the exchange said on Wednesday.

Dubai Clear, the region’s first independent company central counterparty (CCP) that helps facilitate trading in equity markets, currently has 30 members and holds collateral worth 2.05 billion dirhams.

Another subsidiary, Dubai CSD, which is the UAE’s first independent central securities depository company, performed transactions valued at a total of 75.8 billion dirhams. During the same period, it has also distributed 20.63 billion dirhams ($5.6 billion) worth of cash dividends for companies listed on DFM and Nasdaq Dubai. 

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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