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Home > Products > Services Catalogue > Services Details

Trade Corrections

Service ID
5.3.9

Details
For a broker to correct a deal they executed by mistake; they are requested to contact DFM controllers to rectify the mistake in the investor’s account.

A Deal Specification Amendment Form is filled in before financial settlements are made (between 02:00 and 02:30pm). If the mistake was discovered after the financial settlement, a request is to be submitted through eServices within a maximum on T+1 from the trading day to amend the investor’s account in the electronic CSD record.


For more information on this service, please contact:
DFM Clearing & Settlement
T: +971 4 305 5555 (Call Center)
E: Clearing&Settlement@dfm.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 with Market Operation through eServices 
  2. Market Operation verified the details in the request
  3. Market Operation assigned the request to Clearing & Settlement Department
  4. Clearing & Settlement received the request and verified if the request with Fees (Fulfilled) or Not through "Order" option
  5. Clearing & Settlement amend the investor's Account
  6. Clearing & Settlement Approved the request through eServices

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

How to Apply?
Online through DFM eServices

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.