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10:00
01 january 2014
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Internal Transfers

Details

Transferring investor’s securities from one broker to another and/or transferring investor’s securities from a cash trading account to a margin trading account and/or transferring securities ownership from the account of a client:

  • A. Transferring the securities from one broker to another:
    The feature of transfer is used when an investor or their representative asks to transfer all or part of the balance of their securities from their account with a broker to their account with another broker. This cannot be done unless the first broker agrees
  • B. Transferring ownership of the securities from a client’s (investor) account with a broker to the broker’s account or that of one of its security holders or vice versa:
    These transfers are done if an official request is received from the broker to the CSD Division requesting the transfer of the securities from an investor’s account to that of the broker or one of its security holders or vice versa.
  • C. Transferring the ownership of securities from one investor to another as per the request of a brokerage firm:
    The broker hands the concession request on behalf of the transferor and transferee, for the sales/purchases made before or after DFM was founded in case of listing a new company, or for companies suspended from trading as per the procedures and rules of the company.
  • D. Transferring securities from the account of a brokerage firm licensed by DFM to the account of the employees
  • E. Transferring securities from the account of a brokerage firm licensed by DFM to the account of one of the partners
  • F. Transferring pledged securities ownership from the account of a normal investor to the account of his individual establishment.
  • G: Transfer of securities from Broker to CSD with SMS message fees: This feature of transfer is used when broker send request to CSD to transfer investor securities from their accounts with them to their accounts in CSD. In this case CSD will transfer the securities using movement screen Not Registry Transfer Screen and broker should pay for the SMS messages which will be sent to the investors after the transfer is completed.

For more information on this service, please contact:
DFM Customer Services
T: +971 4 305 5555
E: Clearing&Settlement@dfm.ae

Fees
  • A: AED 10 for each transferred company
  • B & C: 
  1.  0.005 (five per thousand) of the shares market value, with minimum of AED 300 (No. of shares*market value*rate)
  2. 0.0005 (five per ten thousand) of the Bonds & Sukuk, with minimum of AED 300 (No. of units*unit value/100*market value*rate)
  • D: 0.004 (four thousands) of the market price of the securities, at a minimum of AED 50 for each transfer
  • E: 0.002 (two thousands) of the market price of the securities, at a minimum of AED 100 for each company
  • F: Free of charge
  • G:
  •  AED 0.1 per transfer with minimum of AED 200 and maximum of AED 5,000
  • SMS fees Services:
  1. Sending SMS messages to resident shareholders: AED 0.104 per message - minimum fees AED 100
    1. Sending SMS messages to international shareholders: AED 0.78 per message - minimum fees AED 100

Procedures
  • A: Transfer the securities from one broker to another
  1.  The Requesting Broker to fill a Transfer Request Form (transferring the securities from one broker to another/from one account to another) and send it to the other Broker
  2. The Broker will send the application back to the Clearing & Settlement Department
  3. The Clearing and Settlement Department will issue a receipt invoice for the broker 
  • B: Transferring  securities ownership from the account of a client (investor) of a broker to the account of the brokerage firm or one of its security holders or vice versa

    1. The Request must be submitted to the DFM who will send the voucher receipt

    2. DFM will send an official letter to the brokerage firm confirming the transfer of the securities

     

  • C: Transferring the ownership of securities from one investor to another as per the request of  the brokerage firm

    1. DFM will send the voucher receipt

    2. DFM will send an official letter to the brokerage firm confirming the transfer of the securities

     

  • D: Transferring securities from the account of a brokerage firm license by DFM to the account of the employee

    1. DFM will send the voucher receipt

    2. DFM will send an official letter to the brokerage firm confirming the transfer of the securities

     

  • E: Transferring securities from the account of a brokerage firm license by DFM to the account of one of the partners

    1. DFM will send the voucher receipt

    2. DFM will send an official letter to the brokerage firm confirming the transfer of the securities

     

  • F: Transferring pledge securities ownership from the account of a normal investor to the account of his/her establishment

    1. DFM will send the voucher receipt

    2. DFM will send an official letter to the brokerage firm confirming the transfer of the securities

     

  • G: Transfer of securities from Broker to CSD with SMS message fees:

  1. DFM will send the voucher receipt
  2. DFM will approve the request in CRM
  • Ensure you do not have securities that are not pledged in your investor number (in case they are you must call Investor Affairs to pledge the securities to the individual establishment account)

Required Documents
  • A: Transfer the securities from one broker to another 
  1. Transfer request
  2. Signature sample (if needed)
  3. Copy of the ID (if needed)
  4. Copy of the Power of Attorney/Guardianship decree certified by the notary public (if any)
  5. Fees
  • B: Transferring  securities ownership from the account of a client (investor) of a broker to the account of the brokerage firm or one of its security holders or vice versa
  1. An official letter from the broker asking to transfer the securities from the account of a client (investor) with them to the account of the brokerage firm or one of its security holders or vice versa
  2. An official letter from the Securities and Commodities Authority (SCA) addressed to DFM approving the transfer
  3. A letter from the investor to DFM approving the transfer of the securities deposited in their account with the broker
  4. A concession contract/agreement between the broker and the investor stating that the investor gives up their rights in the company’s securities in favor of the brokerage firm or one of its security holders
  5. Copy of the acquittance which will be handed to the investor
  6. Fees
  • C: Transferring the ownership of securities from one investor to another as per the request of the brokerage firm 
  1. The original concession agreement, which is to be certified by the notary public, as regards to the conformity of the signatures and data, accordingly stamping the enclosed copy of the concession contract as an exact image of the original.
  2. Authenticating the letter of the transferor as regards to ensuring that the investor’s number is updated, the securities are in the CSD account and the signature is authentic.
  3. An official letter from the broker requesting approval of the transfer of securities ownership from the account of one investor to another, stating the data of the transferor, transferee, the number and type of securities.
  4. Enclosing either the concession agreement or the letters of the transferor/transferee addressed to DFM stating that they do not object to pledging the securities between the two parties.
  5. Transfer fees.
  • D: Transferring securities from the account of a brokerage firm license by DFM to the account of the employee
  1. The original concession agreement, which is to be certified by the notary public, as regards to the conformity of the signatures and data, accordingly stamping the enclosed copy of the concession contract as an exact image of the original.
  2. Authenticating the letter of the transferor as regards to ensuring that the investor’s number is updated, the securities are in the CSD account and the signature is authentic.
  3. An official letter from the broker requesting approval of the transfer of securities ownership from the account of one investor to another, stating the data of the transferor, transferee, the number and type of securities.
  4. Enclosing either the concession agreement or the letters of the transferor/transferee addressed to DFM stating that they do not object to pledging the securities between the two parties.
  5. Transfer fees.
  • E: Transferring securities from the account of a brokerage firm license by DFM to the account of one of the partners 
  1. The original concession agreement, which is to be certified by the notary public, as regards to the conformity of the signatures and data, accordingly stamping the enclosed copy of the concession contract as an exact image of the original.
  2. Authenticating the letter of the transferor as regards to ensuring that the investor’s number is updated, the securities are in the CSD account and the signature is authentic.
  3. An official letter from the broker requesting approval of the transfer of securities ownership from the account of one investor to another, stating the data of the transferor, transferee, the number and type of securities.
  4. Enclosing either the concession agreement or the letters of the transferor/transferee addressed to DFM stating that they do not object to pledging the securities between the two parties.
  5. Transfer fees.
  • F: Transferring pledge securities ownership from the account of a normal investor to the account of his/her establishment 
  1. An official letter from the pledge bank addressed to CSD, confirming that the bank does not object to pledging securities to the investor’s pledge account under the individual establishment’s number.
  2. A letter from the investor addressed to CSD advising that they do not object to pledging securities to the investor establishment’s individual number. They are to specify beneficiaries of the dividends, which should conform to the terms of the original pledge.
  3. The investor is to send a copy of the business license to ensure that the establishment is 100% owned by the investor.
G: Transfer of securities from Broker to CSD with SMS message fees:
  1. Submit request through eServices (General Request)
  2. Attach list of investors with their securities details

How to Apply?
Online through DFM eServices or in person at the DFM Client Affairs Department, Trading Floor, World Trade Centre, Dubai