Dubai Clear and Nasdaq Dubai have received Tier 1 Third-Country Central Counterparty (CCP) recognition from the European Securities and Markets Authority (ESMA), effective from 31 December 2025. The recognition was announced by the Government of Dubai Media Office.
According to the press release, this makes Dubai the only market in the Middle East and North Africa with CCPs that hold ESMA Tier 1 status. The designation applies to Dubai Clear, a subsidiary of Dubai Financial Market, and to Nasdaq Dubai, described by the group as an international exchange serving regional and global participants.
Tier 1 recognition allows European Union-based institutions to become clearing members, as the CCPs are considered to operate under regulatory and risk frameworks aligned with EU requirements. In its decision, ESMA confirmed that the oversight arrangements for both entities are aligned with the European Market Infrastructure Regulation (EMIR).
Dubai Clear is regulated by the UAE Securities and Commodities Authority, while Nasdaq Dubai is overseen by the Dubai Financial Services Authority. The announcement links the Tier 1 designation to increased cross-border connectivity between Dubai’s markets and European capital markets.
Post-trade infrastructure
As licensed central counterparties in Dubai, Dubai Clear and Nasdaq Dubai are part of the emirate’s post-trade infrastructure. The recognition reflects ESMA’s assessment of their regulatory environment and risk management standards, according to the announcement.
