All trades will be automatically and exclusively routed for settlement at Euroclear Bank and the platform will be available to institutional and high-net worth investors, according to the stock exchange planning.
Initially, the tradable securities will include minimum 12 Sukuk and bonds that are listed on the exchange, with a nominal value of $10.9bn.
Borse Dubai chairman Essa Kazim said that the new platform is a natural extension of Dubai’s existing role as a hub for Sukuk and bond issuance and listing.
"Nasdaq Dubai will offer an efficient trading venue to participants from the region and around the world, providing fresh impetus to the growth of the capital markets in the UAE and the region," Kazim added.
In a bid to create a first class trading and settlement infrastructure, Nasdaq Dubai has equipped the new platform with capabilities, which will open with links to UAE and international financial services institutions.
Several Nasdaq Dubai members have already signed up to the new platform to offer Sukuk and bond trading to their clients and other members are preparing for the same.
