The Central Bank and Abu Dhabi Securities Market signed an agreement to enhance the settlement of cash payments in the UAE dirham, for the financial deals listed in the Abu Dhabi Market, in addition to transactions related to marginal demands and guarantees through the central bank network.
According to the agreement, the monetary processes of deals, including shares, bonds and funds circulating in the Abu Dhabi Securities Market, will be settled through the central bank network, in a manner that is fully compatible with the standards of the International Organization for Securities (iosco) for central clearing services and central for securities.
This agreement will contribute to reducing the risk of settlement through the use of the central bank network, which enhances the safety and efficiency of trading in the Abu Dhabi Securities Market, and this step is in line with the market strategy aimed at modernizing its infrastructure and providing reliable and safe financial services, which provides a comfortable and effective trading experience for all Market participants.
The margin settlement and guarantees related to it will also be managed through the central bank network, which provides a direct and effective discount mechanism that contributes to accelerating the settlements and ensuring the fulfillment of financial obligations without delay.
Follow our latest local and sports news and the latest political and economic developments through Google News