AFSA has released its Commodities Exchange Framework, which now enables Persons to be authorised and carry on the activity of a Commodities Exchange in the AIFC. An applicant for conducting the activity should apply for obtaining the licence of Operating an Investment Exchange. The framework is focused on trading of Commodity Derivatives and Environmental Instruments, including carbon emission allowance and offset instruments. Spot commodities trading is currently available for Environmental Instruments only. The framework consists of the amendments to the following AIFC Acts:
✅ AIFC Financial Services Framework Regulations,
✅ AIFC General Rules,
✅ AIFC Authorised Market Institution Rules,
✅ AIFC Market Rules, and
✅ AIFC Glossary.
The amendments to the Acts listed above come into effect on 1 August 2023.