• A corporate body, incorporated in the State.
• Taking one of the legal forms stipulated in the Federal Law No. (8) of 1984, concerning Commercial Companies.
• have not less than 51% of its Share Capital owned by U.A.E.   natural persons or corporate bodies.

2. His activity shall be restricted to brokerage business.

3. The Company’s Paid Up Capital shall not be less than thirty Million Dirhams.

4. The Company’s Memorandum of Association shall be written in the Arabic Language and notarized by the competent authorities.

5. Non of the company managers, partners authorized to manage it, nor its representatives undertaking brokerage business, shall have ceased to settle their commercial debts, even if this is not accompanied by a declaration of bankruptcy, or have already been declared bankrupt and has not yet restored his status, or was otherwise declared to be condemned to imprisonment and his status has not yet been restored.

6. His Operations Manager shall hold a minimum of secondary level qualification with working experience of no less than two years in the field of financial services, banking, investments or accounting, and shall employ no less than two representatives, who meet the conditions required by the Brokers’ regulation at the UAE Financial Markets.

1. The Company’s Memorandum of Association written in the Arabic Language and notarized by the competent authorities.

2. Unconditional bank guarantee, in favor of the Clearing House, for a minimum of twenty Million Dirhams and payable upon request from one of the banks licensed at the UAE.

3. Educational qualifications and working experience certificates for the operations Manager notarized by legal authorities.

4. Declaration from the company managers, partners authorized to manage it and its representatives undertaking brokerage business, that they have never:

• Ceased to settle their commercial debts, even if this is not accompanied by a declaration of bankruptcy.
• Have already been declared bankrupt and has not yet restored his status.
• Was otherwise declared to be condemned to imprisonment and his status has not yet been restored.

5. For Representatives:

• Educational Qualifications and working experience Certificates.
• Certificate that the representative passed the exam prepared by the Market, which the Broker wants to be accredited with, and approved by the Authority.
• Declaration that the representative’s will engaged in the profession on a full time basis.

6. Declaration to inform the Authority and the Market of any changes in the information contained in his license application.

7. Plan for the gradual emiratization of the profession, which is acceptable by the Authority if the representatives are non- nationals.

1. To be licensed by Emirates Securities and Commodities Authority.

2. Submission of Unconditional bank guarantee, in favor of the Clearing House, for a minimum of twenty Million Dirhams and payable upon request from one of the banks licensed at the UAE. The amount of such guarantee shall increase concurrently with the increase in the size of the Broker’s business, based on the decision by the Market Board of Directors.

3. Nomination of Operations Manager and at least four representatives who meet the requirements of Emirates Securities and Commodities Authority and shall be accredited by the Market after passing the exam as well as a customer services officer.

1. Copy of the Emirates Securities and Commodities Authority’s License.

2. Copy of the documents attached to the Licensing Application submitted to the Emirates Securities and Commodities Authority.

3. Annual audited financial report for the last two years.

4. Names of owners and percentage of ownership in the applicant company and in any company dealing in securities.

5. A list of authorized signatories for the documents addressed to the DFM and sample of their signatures.

6. The Board of Directors resolution authorizing the signatories to sign documents addressed to the DFM.

7. Details of any legal rulings or cases against the broker in the past three years, which have not been settled to date.

8. Details of the applicant are trading activity, including average number and value of trades per day (if deemed necessary by DFM).

1. Submission of unconditional bank guarantee, in favor of the Clearing House, for a minimum of twenty Million Dirhams from one of the banks licensed at the UAE.

2. Opening Settlement Account with Settlement bank , which will be used to settle payments with Clearing, Depositary and Settlement.

3. Payment of Membership and Rent Fees.

4. A List of names, telephone and fax numbers of all members of the Board of Directors (owners), and their relatives up to second of kin, including number of shares they own.

5. A List of all employees of the company, their designations, and their relatives up to second of kin, including number of shares they owned.

6. 3 photos for each employee recommended working at the Brokerage office at the DFM.

7. Copy of the Account opening Form used by the broker and the broker procedure of payment and receipt of money to and from investors.

The tables below demonstrate a specific information regarding getting the licensing:

DFM’s fully membership
Membership fees-New ( first time)	150,000 AED
Membership fees-Renewal	100,000 AED
Service Fee- Usage of Equator Program	25,000 AED minimum for 6 users and 1000 AED per extra user
Service Fee-Usage of Horizon Program	25,000 AED minimum for 6 users and 3000 AED per extra user
Service fees- voice recording Program	25,000 AED minimum for 6 users and 3000 AED per extra user
Office Rental	15% increase, depending on location

 

Licensing via Remote Access
Membership fees-New	150,000 AED
Membership renewal	100,000 AED
Service Fee- Usage of Equator Program	25,000 AED minimum for 6 users and 1000 AED per extra user
Service Fee- Usage of Trading Program	25,000 AED minimum for 6 users and 1000 AED per extra user