Euroclear Adds Lunate as First Middle Eastern ETF Issuer

Euroclear has announced that Abu Dhabi-based investment manager Lunate has launched its Irish-domiciled Exchange Traded Funds (ETFs) on Euroclear’s funds platform. With this move, Lunate becomes the first firm from the Middle East to issue a UCITS ETF under the International Central Securities Depository (ICSD) model. The launch allows Lunate to use Euroclear’s infrastructure and distribution network, positioning its products within a framework designed for cross-border access and multi-currency settlement.

The development stands out because the ICSD model brings both primary and secondary market activity into a single location, whether trading occurs on an exchange or over the counter. By consolidating liquidity into one pool across currencies, the model reduces fragmentation and simplifies post-trade processing. For ETF issuers, this structure supports smoother issuance and redemption processes, while investors benefit from more streamlined access and clearer settlement arrangements across different markets.

Euroclear Adds Lunate as First Middle Eastern ETF Issuer

Through Euroclear’s iETF platform, Lunate can distribute its funds more easily within Europe and extend its reach into Asia, Latin America, and the Middle East. This wider connectivity allows investors in multiple regions to access the same ETF lines without needing separate local settlement setups. The platform also supports trading across several currencies and listing venues, which helps align the funds with different investor preferences and regional market practices.

Lunate’s Boreas thematic ETF range is designed to offer diversified exposure to long-term structural themes expected to shape future economic activity. The current Boreas lineup includes three ETFs listed across multiple venues and trading currencies. Two of these, issued in Euroclear Bank, are the Boreas S&P AI Data, Power & Infrastructure UCITS ETF and the Boreas S&P Absolute Luxury UCITS ETF. Both funds are on the Frankfurter Stock Exchange (Xetra) and the Abu Dhabi Securities Exchange (ADX), giving them visibility in both European and Middle Eastern markets.

Also, commenting on the launch, Mohamed M’Rabti, Global Head of Sales of Asset Managers and ETF at Euroclear, said the move reflects demand for ETF structures that support liquidity and international scale. Sherif Salem, Partner and Head of Public Markets at Lunate, added that using the iETF platform helps broaden investor access and supports international distribution through operational efficiency and transparency. The partnership marks a step in Lunate’s global expansion plans and highlights the role of centralized infrastructure in supporting cross-border ETF growth.

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