Settlement times – United Arab Emirates (Nasdaq Dubai)
The deadlines shown below are valid provided that the client's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Clients must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.
Important Note: As part of CBL’s internal compliance procedures, all incoming client instructions will be automatically scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the client via their chosen media channel(s), until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, clients are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times in Central European Time (CET)
27 October 2024 – 29 March 2025
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date rtp=Real-time processing | |||||||
Equities, DRs, ETFs, Fixed Income Instruments | |||||||
Receipts | FOP | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 SD | |
AP-AED | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 | ||
AP-USD | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 | SD | |
Deliveries | FOPa | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 | |
AP-AED | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 | ||
AP-USD | 21:30 | 15:55 | 15:55 | SD (rtp) | 21:00 | SD | |
a. Free of payment transactions with change of beneficial owner are not permitted.
31 March 2024 – 26 October 2024
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date rtp=Real-time processing | |||||||
Equities, DRs, ETFs, Fixed Income Instruments | |||||||
Receipts | FOP | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 SD | |
AP-AED | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 | ||
AP-USD | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 | SD | |
Deliveries | FOPa | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 | |
AP-AED | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 | ||
AP-USD | 21:30 | 16:55 | 16:55 | SD (rtp) | 21:00 | SD | |
a. Free of payment transactions with change of beneficial owner are not permitted.
Settlement times in Gulf Standard Time (GST)
All year
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date rtp=Real-time processing | |||||||
Equities, DRs, ETFs, Fixed Income Instruments | |||||||
Receipts | FOP | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 SD | |
AP-AED | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 | ||
AP-USD | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 | SD | |
Deliveries | FOPa | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 | |
AP-AED | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 | ||
AP-USD | 23:30 | 18:55 | 18:55 | SD (rtp) | 21:00 | SD | |
Note: The settlement instruction deadline for inter-custodian trades is at 09:55 CET SD-1/10:55 CEST SD-1. Inter-custodian trades are defined as trades whereby CBL’s custodian must deliver or receive to another custodian to complete the settlement chain.
Failure to send settlement instructions by the deadline indicated above may result in exchange-based trades being unwound. As per Nasdaq Dubai regulations on “Procedures for Managing Discrepancies on Custodian Client Transactions”, exchange-based trades that have not been accepted by the custodian by Settlement Date may be subject to market-based reversals.