CFCL General information – Dubai
Reference
CFCL eligible fund types
CSD link
Eligible funds
Investment funds that are eligible in Dubai CSD, Nasdaq Dubai Limited can be made eligible in CFCL.
Exchange Traded Funds (ETFs)
Exchange-Traded Funds (ETFs) are permitted and can be traded within the Dubai market.
REITS
Real Estate Investment Trusts (REITs) are permitted and can be traded within the Dubai market.
Custody chain and depository
The OneClearstream service level provides clients with a single point of access to all markets with comprehensive instruments coverage. This is complemented by full harmonization of asset services and connectivity channels between CFCL, CBL, and CEU. This service is available to all our clients via a single interface and log-on.
The service description is valid for CFCL clients, unless otherwise highlighted in the documentation.
Type of link | Indirect via Deutsche Securities and Services, Dubai Branch |
CSD (as CBL’s depository) | Custodian (as CBL’s depository) | CBL (as CFCL’s depository) | |
Name | Nasdaq Dubai Limited | Deutsche Bank AG, acting through Deutsche Securities and Services, Dubai Branch. | Clearstream Banking S.A. |
FATCA GIIN | Not available | Y0M5J7.00000.BR.7848 | N1V1GJ.00000.LE.442 |
LEI | 213800QL3V1PYPQMLU38 | 7LTWFZYICNSX8D621K86 | 549300OL514RA0SXJJ44 |
Country of incorporation | United Arab Emirates | Germany | Luxembourg |
Account type | Omnibus | Omnibus | Segregated |
Legal Account name/holder | Deutsche Securities and Services, Dubai Branch holds an individually segregated account at the CSD for Clearstream Banking S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | Local custodian/Agent |
CBL | Deutsche Securities and Services, Dubai Branch 401 Maze Tower P.O. Box 125126 Dubai, UAE |
Operational arrangements
This section describes the operational arrangements of the Dubai market:
For CFCL clients | Remarks | |
Settlement in T2S | No | |
Settlement free of payment | Yes | |
Settlement against payment | Yes | Eligible settlement currencies can be either United States Dollar (USD) or UAE Dirham (AED), depending on the currency that the security trades in |
Settlement against payment in central bank money | No | Against payment settlement takes place on the cash account of Deutsche Securities and Services, Dubai Branch. |
Pre-matching | No | |
Settlement penalty fees | Yes | |
Partial settlement | Yes | Partial settlement is possible in forced settlement and buy-in scenarios. |
Recycling | No | |
Settlement with Euroclear | No | |
Hold and Release | No | |
Transaction Linking | No | |
Bilateral Cancellation | No | |
Registered securities | Yes | |
Transaction Management | No | |
Proxy voting | Yes | |
Liquidity Hub Connect | No | |
Sale and purchase of rights | No | |
Repo services | Yes | |
Market restrictions | Yes | |
FTT | No | |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | No | |
Moment of entry of instructions | At the time of orders reaching Nasdaq Dubai. | |
Irrevocability of instructions | Order matching. Trade cannot be cancelled once confirmed at Nasdaq Dubai. | |
Finality of instructions | Securities transfer into account provided by buyer, cash credited into Nasdaq Dubai account. | |
Legal arrangements
The below section is valid on the date of the legal opinions that were issued and might be subject to change.
The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.
As CBL is our sub-custodian, please refer to the Market Link Guide – United Arab Emirates (Nasdaq Dubai) for the complete information about Legal arrangements.
Cash correspondent details
Currency: | U.S. Dollar (USD) | United Arab Emirates Dirham (AED) |
CCB name: | JPMorgan Chase Bank, New York | Standard Chartered Bank, Dubai, UAE |
CBL account: | 001-1-573714 | AE26 0440 0000 0820 9920 701 |
Swift address: | CHASUS33XXX | SCBLAEAD |