Until further updates, the FSRA
reminds market participants using ICOs and virtual currencies to approach FSRA
to discuss appropriate treatment within the regulatory regime.
The recognition status takes effect immediately and enables financial institutions domiciled in the ADGM and licensed by the FSRA
to become members of the DGCX, the region's diversified derivatives exchange and clear through its globally recognised Clearing House, DCCC.
This will enable FSA and FSRA
to keep abreast of regulatory and relevant economic or commercial developments in each other's jurisdictions, and help to inform domestic regulatory approaches in the context of a rapidly changing global financial environment.
These improvements are part of the FSRA
's ongoing commitment to foster a dynamic and well-regulated platform for institutions within the scope of PRU to operate their businesses prudently and efficiently.
Gaurang Desai, the chief executive of DGCX, said: "We are delighted about being the first exchange and clearing house to be granted remote recognition status by FSRA
. This accreditation will enable us to offer the full range of our listed derivatives products in all asset classes to the burgeoning ADGM community."
The agreement provides a framework for collaboration, cooperation and consultation between the FSRA
and GlassQube Business Centre focusing on technology development and innovation in financial services.
Dubai: Macquarie Capital Middle East, the corporate advisory and capital markets arm of Macquarie Group, said in a statement on Sunday it is one of the first global banks to receive an in principle license approval from the Abu Dhabi Global Markets' (ADGM) Financial Services Regulatory Authority (FSRA
), to operate within the UAE's next global financial centre.
invites the public and industry participants to submit their comments to Consultation Paper No.