The Dubai Financial Services Authority (DFSA) has granted Eurex the status of a Recognised Body within the Dubai International Financial Centre (DIFC).
The DFSA is the regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the DIFC.
The new status means authorised institutions operating in the DIFC can now apply to become a full member of Eurex and trade all Eurex products.
Currently, Eurex is developing all technical pre-requisites to connect new members from the DIFC. A communications hub, a so-called Access Point, will be launched in the second quarter to facilitate connection to Eurex.
“Markets in the Middle East are a major focus of our strategy to expand into new markets,” says Michael Peters, Global Head of Sales at Eurex. “We are pleased to be able to offer our services in this fast-growing capital market.”
In November 2006, Eurex obtained a no-objection letter from the Emirates Securities & Commodities Authority, which is the regulatory body for the United Arab Emirates. This allowed Eurex to provide direct access for trading firms domiciled in the United Arab Emirates.