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10:00
01 january 2014
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Financial Penalties (SLB)

Details
If a Lender fails to settle, his sell trade by recalling loaned securities on time for settlement of the Lender’s sell trade even if the fault of the non-delivery is the Borrower’s failure to return securities.

For information on this service, please contact:

DFM Customer Services
T:+971 4 305 5555
E: customerservice@dfm.ae 


Fees

T+3:

A fine of AED 1000 or 0.1% of the unsettled trade value, whichever is the higher, if a failed sell trade is resolved on T+3.

T+4:

a. A fine of AED 3000 or 0.5% of the unsettled trade value, whichever is the higher, if a failed sell trade is resolved on T+4.

b. A fine of AED 5000 or 1% of the unsettled trade value, whichever is the higher, if a failed sell trade is settled by way of a buyer cash compensation.

Procedures
DFM will send a letter to the broker.

Required Documents
N/A

How to Apply?
N/A