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DVP Transfer Fees

Service ID
5.0.4

Details

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

For information on this service, please contact:
Dubai Clear
T:+971 4 305 5555
E: clearing&settlement@dubaiclear.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 Member e-Services.

2- Process the movement.

3- Dubai Clear to send voucher receipt to member.


Required Documents

1. Submit request through member e-Services

2- Submit copy of credit advise 


How to Apply?
Online through Dubai Clear eServices

FAQs

Yes, a 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 Clearing Member failed to transfer the paid purchased securities from the Client Buy Rejection Account to the client’s Agent Account of a Settlement Agent 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 Clearing Member failed to transfer unpaid purchased securities from the Client Buy Rejection Account to the Members’s Buy Rejection Sellout Account by the existing prescribed T+5 deadline.