Market Infrastructure

Reflecting a flexible, world-class regulatory framework and strong investment environment, Market Infrastructures are a vital part of the capital markets within ADGM, coming in the form of Recognised Investment Exchanges, Recognised Clearing Houses, Multilateral Trading Facilities (MTFs) and Organised Trading Facilities (OTFs).

ADGM fosters primary and secondary markets across its Market Infrastructures, ranging from the offering and listing of Securities (including Digital Securities) to having bespoke trading venues focused on commodity derivatives and Virtual Assets. For details on the regulatory treatment of Digital Securities, click here.

Within its capital markets, ADGM also allows Remote Bodies (exchanges and/or clearing houses) and Remote Members (broker/members) from non-ADGM jurisdictions to connect into ADGM-based brokers and Exchanges/Clearing houses respectively.

A person located in a jurisdiction other than ADGM requires FSRA authorisation as a Remote Member, under section 138A of Financial Services and Markets Regulations 2015 (FSMR), to participate on a recognised investment exchange or recognised clearing house located in ADGM.

Chapter 8 of the FSRA’s Market Infrastructure Rulebook (MIR), sets out the Rules applicable to Remote Members and should be referred to when completing the application form.

Once completed and signed, Applications can be submitted to the FSRA via email at MIP@adgm.com.

Financial services entities are required to meet specific resource requirements, either designated as Controlled Functions, which require approval by the FSRA, or as Recognised Functions, which are appointed by the entity itself and notified to the FSRA. For more information refer to Chapters 5.3 and 5.4 in the ADGM General Rulebook (GEN).

Entities that are either required or that want to have a physical presence, will find a wide range of Grade A office space on Al Maryah Island to choose from. ADGM team will advise regarding office requirements on a case by case basis.

Market Infrastructure is one of three areas focused on Capital Markets at ADGM. The other areas include Brokerage and Debt and Equity Capital Markets.