• UAE DFM issued listing rules module, and membership, trading, derivatives module.
• Documents dated 2023, received from UAE DFM 13 December 13, summarized on 19 December 2023.
• Follows UAE DFM November 2022 issued market rules modules one to four.

Background

Module 3 Membership, Trading and Derivatives Rules

• Contains market rules on members and main activities they may carry out on market.
• Enumerated provisions re transfer of membership, liability on members and on market.
• Specified requirements, documents, license for members to be satisfied by the market.
• Trading clearing member shall appoint individuals to act as trading, operation manager.
• Detailed provisions re membership termination and access to market trading system.
• Obtain final approval of market as per part 5 to provide electronic trading mechanism, in addition to approval in line with part 6 to engage in proprietary trading on market.
• Mentioned applicant requirements by market to being admitted as a liquidity provider.
• Set the conditions for regulated short selling mechanism, allocated, omnibus accounts.
• In addition to margin trading requirements, collateral and shari'a-compliant financing.
• Required conditions for the applicant to act as authorised investment fund participant.