From Traditional Securities Markets to Next-Generation Market Infrastructure: supporting Vermeg’s Strategic Positioning in the UAE
Strategic positioning at the intersection of capital markets, digital assets and sovereign infrastructure
The Central Bank of the UAE (CBUAE) appointed Vermeg (a Gimar & Co client) as the lead technology partner of a consortium responsible for supporting the establishment of a new Central Securities Depository (CSD) for national debt securities and Sukuk. The platform will serve as a critical component of the UAE’s capital market infrastructure, supporting settlement, custody and post-trade activities while preparing the market for future developments in digital assets and financial innovation.
This landmark project forms part of the UAE’s broader ambition to strengthen its financial infrastructure and reinforce its position as one of the world’s leading financial centres.
The challenge
The UAE sought to establish a modern Central Securities Depository capable of supporting:
- National debt issuance;
- Sukuk markets;
- Post-trade efficiency;
- Custody and settlement activities;
- Future digital asset infrastructure;
- International market standards.
The successful delivery of such a platform required a partner combining deep expertise in market infrastructures, central banking environments and next-generation post-trade technologies.
Why Vermeg?
Vermeg has developed a unique position as a provider of mission-critical solutions for:
- Market infrastructures;
- Post-trade systems;
- Collateral management;
- Custody platforms;
- Central bank technology environments.
According to Badreddine Ouali, Chairman of VERMEG’s Supervisory Board, “the appointment reflects the company’s long-standing experience supporting central banks and financial market infrastructures worldwide”.
Gimar & Co’s contribution
Gimar & Co supported Vermeg in strengthening its strategic positioning and senior-level engagement within the UAE ecosystem.
The firm’s involvement benefited from a rare combination of expertise:
- Deep understanding of financial market infrastructures and securities depositories;
- Long-standing relationships across the Gulf region;
- Experience at the intersection of capital markets and digital innovation.
A particularly differentiating element was the experience of François Barthelemy, whose entrepreneurial background in next-generation securities infrastructure and blockchain-based post-trade technologies provided valuable insight into the evolution of global market infrastructure models.
In parallel, the longstanding reputation and network of Christian Giacomotto in Abu Dhabi, including his involvement in major cultural and institutional initiatives, contributed to establishing trusted relationships within the region’s broader decision-making ecosystem.
Supporting the future of financial markets
The new Central Securities Depository will form a key building block of the UAE’s future financial architecture.
According to the Central Bank of the UAE, the initiative is designed to:
- Enhance post-trade efficiency;
- Support liquidity management;
- Strengthen settlement infrastructure;
- Increase international investor confidence;
- Facilitate future digital asset developments;
- Reinforce the competitiveness of UAE capital markets.
The appointment of VERMEG demonstrates the increasing convergence between traditional market infrastructures and next-generation digital financial ecosystems.
Key Highlights
Sovereign Infrastructure Project
Appointment by the Central Bank of the UAE to support the development of a national Central Securities Depository.
Capital Markets Transformation
Supporting debt securities, Sukuk markets and post-trade infrastructure.
Digital Asset Readiness
Designed to support future developments in digital finance and financial innovation.
Mission-Critical Technology
VERMEG selected as lead technology partner for the initiative.
Strategic Positioning
Combining financial infrastructure expertise, innovation capabilities and deep regional relationships.