A member will be required to sign an agreement with Dubai Clear for clearing services. Dubai Clear members will be required to be approved by the Securities and Commodities Authority (SCA) before applying for a Dubai Clear membership.
A member will be required to sign an agreement with Dubai Clear for clearing services. Dubai Clear members will be required to be approved by the Securities and Commodities Authority (SCA) before applying for a Dubai Clear membership.
The requirements for each category of membership are set out below:
Membership Category | Minimum Collateral Requirement | ||
---|---|---|---|
Member Type | Securities Market | Derivatives Market | Both Securities & Derivatives Market |
Trading Clearing Member (TCM) | AED 10 million | AED 5 million | AED 15 million |
Trading Clearing Member Proprietary Trading (TCMP) | AED 5 million | AED 2 million | AED 7 million |
General Clearing Member (GCM) | AED 50 million | AED 10 million | AED 50 million |
Settlement Agent (SA) | AED 50 million | N/A | N/A |
The following institutions may apply for Clearing Membership with Dubai Clear LLC: