• MIR 7.2 MIR 7.2 Applications

    • MIR 7.2.1

      Applicants for recognition as a Non-Abu Dhabi Global Market Recognised Investment Exchange or Non-Abu Dhabi Global Market Recognised Clearing House shall follow the same application procedures as apply in respect of applicants for recognition as a Recognised Investment Exchange or Recognised Clearing House.

    • MIR 7.2.2

      Applicants for recognition as a Non-Abu Dhabi Global Market Recognised Clearing House must demonstrate that they have QCCP status for the purposes of the Bank for International Settlements' paper BCBS282 entitled "Capital requirements for bank exposures to central counterparties".

    • MIR 7.2.3 MIR 7.2.3

      In addition, applications for recognition as a Non-Abu Dhabi Global Market Recognised Investment Exchange or Non-Abu Dhabi Global Market Recognised Clearing House must contain:

      (a) the address of the applicant's head office in its home territory;
      (b) the address of a place in the Abu Dhabi Global Market for the service on the applicant of notices or other documents required or authorised to be served on it;
      (c) information identifying any type of activity which the applicant envisages having in the Abu Dhabi Global Market and extent and nature of usage and Membership;
      (d) a comparative analysis of the applicant's regulatory requirements in its home jurisdiction compared against those under the rules set out in this rulebook and those contained in the IOSCO Principles for Financial Market Infrastructures; and
      (e) the information specified in Rule 2.15.4.

      • MIR 7.2.4

        The Regulator may require further information from the applicant and may need to have discussions with the appropriate authorities in the applicant's home territory. To allow sufficient time for applications to be processed and for the necessary contacts to be made with the appropriate home territory authorities, applications should be made not later than six months before the applicant wishes the recognition order to take effect. No guarantee can be given that a decision will be reached within this time, although the Regulator will endeavour to meet the applicant's reasonable timing requirements.

      • MIR 7.2.5

        All material should be supplied in English, or accompanied, if appropriate, by an accurate English translation. An English glossary of technical or statistical terms may be sufficient to accompany tables of statistical or financial information.