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01 january 2014
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DVP Transfer Fees

Details
In case of receiving transfer request (for Buy) implemented in DFM after the period allowed (T+4) and specified according to established DVP procedures.


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


Fees

1. T+5 onward for Buy Reversal: AED 3,000 or 0.5% of trade value whichever is the higher

2. T+6 onward for Sell Out Transfer:  AED 3,000 or 0.5% of trade value whichever is the higher


Procedures

1- Receive request through eServices.

2- Process the movement.

3- DFM to send voucher receipt to broker.


Required Documents

1- Submit request through eServices

2- submit copy of credit advise 


How to Apply?
eServices

FAQs

Yes penalty will be applied for a minimum of AED 2500 or the total order values of each sell rejection transaction X 0.25%.
The Transfer Fees will be levied for two situations:

  1. T+5 Transfer Fee: this Transfer Fee will be applicable where the Broker failed to transfer the paid purchased securities from the Client Buy Rejection Account to the client’s Agent Account of a Custodian by T+4 upon receiving payment from the client within the late confirmation period of T+2 to T+4.
  2. T+6 Transfer Fee: this Transfer Fee will be applicable where the Broker failed to transfer unpaid purchased securities from the Client Buy Rejection Account to the Broker’s Buy Rejection Sellout Account by the existing prescribed T+5 deadline.