> For the complete documentation index, see [llms.txt](https://docs.dmz.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.dmz.finance/product-structuring.md).

# 🧱 Product Structuring

QCDT is issued by QCD OPEN-ENDED PCC Limited, a protected cell company incorporated with limited liability in the Dubai International Financial Centre (DIFC). The company operates as an open-ended investment company and serves as the legal issuer of the QCD Money Market Fund.

The Fund Manager, Capricorn Fund Managers (DIFC) Limited, was granted a financial services licence on 23 September 2024 (Licence No. F008633) and is regulated by the Dubai Financial Services Authority (DFSA) as an Authorised Firm, holding a Category 3C prudential licence under DFSA rules.

Each QCDT token represents a share in the underlying fund. As such, token ownership is restricted to onboarded investors who have completed KYC/AML procedures with QCD OPEN-ENDED PCC Limited. The fund administrator maintains a formal share registry that records QCDT token issuance and transfers, ensuring alignment between the on-chain token supply and the off-chain fund share register.