• Acting as a Trade Repository

    • GEN 5.2.4 GEN 5.2.4

      The requirements in Appendix 2 must be met by an Authorised Person whose Financial Services Permission includes a designation permitting the Authorised Person to maintain a Trade Repository.

      • Guidance

        1. Maintaining a Trade Repository is not a separate Regulated Activity but may be carried on by an Authorised Person or Recognised Body which has a Financial Services Permission with a designation permitting it to do so. An Authorised Person or Recognised Body maintaining a Trade Repository is subject to some specific requirements relating to that activity, which are set out in Appendix 2.
        2. The functions of a Trade Repository promote increased transparency and integrity of information, particularly for centrally clearing OTC Derivatives. Currently there are transaction reporting requirements in the ADGM under section 146 of the FSMR which require reporting to Trade Repositories.
        3. An Authorised Person or Recognised Body does not carry on the activities of a Trade Repository to the extent that it maintains records of transactions pursuant to the record keeping requirements applicable to that Authorised Person or Recognised Body (such as those relating to transactions carried out on behalf of the Authorised Person's Clients, or transactions carried out on the facilities of a Recognised Body).

    • GEN 5.2.5

      A Person licensed by the Emirates Securities and Commodities Authority to trade on an U.A.E. exchange will not be granted a Financial Services Permission by the Regulator unless that Person has the prior approval of the Emirates Securities and Commodities Authority.

    • GEN 5.2.6 GEN 5.2.6

      A Person applying for a Financial Services Permission must make an application in such form as the Regulator shall prescribe.

      • Guidance

        A Person submitting an application under Rule 5.2.6 is required to:

        a. pay the appropriate application fee as set out in FEES; and
        b. include information relating to its Controllers, completed by the relevant Controllers themselves, in such form as the Regulator shall prescribe.