UAE domestic bourses will unveil a new delivery-versus-payment (DvP) settlement system on April 28, to uplift the markets to MSCI’s emerging market status, Bloomberg reports. The Qatar Exchange has already started the DvP system and will implement further changes in May. The Dubai Financial Market (DFM) will also adapt the DvP system, through which securities are delivered and cash is received on the same day. DvP will neither change the DFM settlement duration of T Plus 2 system, nor will it revoke the need for early cross-check to ensure that the securities being offered for sale are available in the client’s trading account.
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