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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Collective Investment Rules (CIR) [VER26/12-19 ]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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  • CIR 3.1.12

    (1) A Fund is an Exchange Traded Fund ("ETF") if it:
    (a) is constituted as an Open-ended Public Fund;
    (b) has its Units available for trading throughout the day on an exchange that meets the criteria in (2); and
    (c) has at least one market maker (Authorised Participant) who:
    (i) purchases and redeems "creation Units" of the Fund from the Fund Manager; and
    (ii) is prepared to buy and sell Units of the Fund throughout the day on the relevant exchange.
    (2) An exchange meets the requirement in (1)(b) if it is:
    (a) operated by an Authorised Market Institution;
    (b) regulated by a Financial Services Regulator in a jurisdiction that is a signatory to the IOSCO Multilateral Memorandum of Understanding for sharing information; or
    (c) regulated by a Financial Services Regulator in a jurisdiction which has entered into a bilateral memorandum of understanding with the DFSA for sharing information.
    Derived from DFSA RM218/2018 (Made 22nd February 2018) [VER23/12-18]