UAE Central Bank and Financial Institutions Decree-Law

Article 154 — Article (154) Application for Licensing Financial Market Infrastructures or Extension of License Scope

Part Four: Financial Market Infrastructures · Chapter One: Funds Transfer, Settlement of Securities, and Trade Repositories

1. Any juridical person may, in accordance with regulations issued by the Board of Directors, submit to the Central Bank an application for licensing a Financial Market Infrastructure, or extension of the scope of a previously issued license.  2. The Board of Directors shall issue the regulations, rules, standards, and conditions relating to licensing a Financial Market Infrastructure, including:   a. Fit and proper criteria; b. Resources required for the system; and c. Control and monitoring systems.  3. The Central Bank may, at its own discretion and as it deems appropriate to safeguarding public interest, add any requirements or conditions to be fulfilled by the applicant.

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