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.
Membership
Types of Membership
The following categories of membership are provided by Dubai Clear:Trading Clearing Members Authorized to clear proprietary and Client trades executed by themselves as a Trading member of the Exchange.
Trading Clearing Members ProprietaryAuthorized to clear proprietary executed by themselves as a Trading member of the Exchange.
General Clearing MembersAuthorized to clear proprietary and Client trades executed by themselves as a Trading member of the Exchange or trades executed by any other Non-Clearing Trading member of the Exchange
Settlement AgentsAuthorized to settle Client trades on behalf of Clearing Members for DVP clients.
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 5 million | AED 1 million | AED 6 million |
| Trading Clearing Member Proprietary Trading (TCMP) | AED 2.5 million | AED 1 million | AED 3.5 million |
| Foreign Remote Clearing Member | AED 10 million | AED 5 million | AED 15 million |
| General Clearing Member (GCM) | AED 25 million | AED 5 million | AED 30 million |
| Settlement Agent (SA) | AED 50 million | N/A | N/A |
New Clearing Member
The following institutions may apply for Clearing Membership with Dubai Clear LLC:
A trading member in the stock exchange carries out the clearing and settlement process for its own trades or for its clients. (Trading Clearing Member)
A General Clearing Member (GCM) licensed by SCA to conduct the business activities of a general clearing member pursuant to The Authority’s Board of Directors’ Decision No. (36/R.M) of 2019 Concerning General Clearing Member Activity
The ‘Procedures for Registration of Trading Clearing Members, Clearing Members & Settlement Agent’ can be found under the Dubai Clear Regulations, Policies and Procedures section.