Dubai International Financial Exchange (DIFX) equities now will be eligible for settlement in Clearstream via Deutsche Bank, a member of DIFX.
As a consequence, Clearstream customers will be able to settle domestic free and against payment transactions in all DIFX eligible equities with counterparties of the DIFX via Deutsche Bank.
With this addition, Clearstream’s network reaches 43 domestic markets around the globe: 29 in Europe, 5 in the Americas, 9 in Africa, Asia and Australasia. It is the widest network of any International Central Securities Depository (ICSD) and enables counterparties in local markets to efficiently settle eligible securities through Clearstream’s operational hub in Luxembourg
“With this new link, Clearstream will bring additional settlement liquidity to the DIFX,” said Jeff Tessler, CEO of Clearstream. “We believe that Clearstream’s commitment will support the DIFX in attracting listings and building turnover as it develops into a key regional exchange.”