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29 Dec 2015, 12:12 pm

Proposed Designation of NASDAQ Dubai as the National Numbering Agency in the Dubai International Financial Centre

The Dubai Financial Services Authority (DFSA) has received a request submitted by Nasdaq Dubai Ltd for its designation as the National Numbering Agency (NNA) for the jurisdiction of the Dubai International Financial Centre (DIFC). Such designation by the Regulator in the jurisdiction is required by the Association of National Numbering Agencies (ANNA) as part of the conditions for Nasdaq Dubai to act as a NNA. ANNA is a global industry association, with a presence in excess of 120 countries, comprising a membership of central banks, central securities depositories, data vendors, regulators and stock exchanges.

The role of the NNA is to accept registration information directly from issuers of new financial instruments such as; shares, bonds and derivatives, and then to issue codes that uniquely identify these instruments according to International Organisation for Standardisation (ISO) standards. After each new instrument is registered and issued an International Securities Identification Number (ISIN) and a Classification of Financial Instruments (CFI), the NNA maintains the validity of the registration data. As NNA for the DIFC, Nasdaq Dubai would be the primary source of the codes and identification information in the DIFC.

The DFSA is minded to approve the request received from NASDAQ Dubai for designation as the NNA for the DIFC, taking into account, among other factors, that as an Authorised Market Institution (AMI) and the operator of the Central Securities Depository in the DIFC, Nasdaq Dubai would appear to be a suitable candidate to perform this role in the DIFC. However, the DFSA considers it appropriate to give other persons who may be affected by the proposal, the opportunity to comment to the DFSA (if they wish to do so) before it makes any final decision regarding designation.

Should you wish to comment on the request for designation, pleased email your comments to [email protected] by 27 January 2016.

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