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Trade Corrections

Service ID
5.3.9

Details

For a member to correct a deal they executed by mistake; they are requested to contact Dubai Financial Market controllers to rectify the mistake in the investor’s account.

A Deal Amendment Form is filled in before financial settlements are made (between 02:00 and 02:30pm in (T+0)).

 If the mistake was discovered after the financial settlement, a request is to be submitted through e-Services within a maximum on (T+1) from the trading day to amend the investor’s account in the electronic Dubai Clear record.


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

Fees
0.003 (three per thousands) of the deal’s highest executing price in the case of securities.0.0003 (three ten thousands) of the deal’s highest sale price in the case of bonds and Sukuk.
At a minimum of AED 100.

Procedures
  1. Apply for Trade Data Amendment request through e-Services Max submission (T+1) and will be verified the details in the request.
  2. DFM will assigned the request to Dubai Clear to rectify the investor account.

Required Documents
  1. Copy of the Trade Log summary of the deal details.
  2. Deal Amendment Form.

How to Apply?
Online through Dubai Clear e-Services

FAQs

The Trade Data Amendment process is implemented if the brokerage company made a deal/trade for the wrong investor, or a trade with incorrect details. The brokerage firm will need to fill out a special form that is submitted on the same day of the trading session and before 14:30. The form can still be submitted after 14:30 and until settlement date, however there will be charges determined by the Clearing and Settlement Department.