New Member

The following states the requirements for membership on the Dubai Financial Market (DFM) and act as an intermediary between the market and investors. In order for an institution to participate on the Dubai Financial Market, it is necessary to become a member first.

There are three types of membership:

  1. Trading Member (Broker)
  2. Depository Member
  3. Custodian Clearing Member

 

Trading Member (Broker)

To become a Trading Member, an applicant must have the following:

  1.  An approved Trading Clearing Member of the DFM and licensed by the local regulator, the Securities and Commodities Authority of the UAE (SCA).
  2. The paid up capital shall not be less than AED 3 million for a trading member.
  3. A copy of the bank guarantee letter in favor of the Authority with a minimum value of AED 1 million.
  4. Official Letter stating the Name of the clearing Member which the TM’s has appointed.
  5. Copy of Signed agreement with a clearing Member for the settlement of Customers or company's trades, fees and all account dues. The agreement shall specify the relationship between the trading member and the clearing member, rights and obligations of each party, work procedures, and distribution of the commission between them. The firm shall provide the authority and market with a copy of the agreement.

Trading Clearing Member (Broker)

To become a Trading Clearing Member, an applicant must have the following:

  1. An approved Trading Clearing Member of the DFM and licensed by the local regulator, the Securities and Commodities Authority of the UAE (SCA).
  2. Opening a Settlement Account with the Settlement Bank and includes Authorization of overdraft if applicable.
  3. A copy of the bank guarantee letter in favor of the Authority with a minimum value of AED 1 million.
  4. Official Letter stating the Name of the clearing Member which the TM’s has appointed
  5. Copy of Signed agreement with a clearing Member for the settlement of Customers or company's trades, fees and all account dues. The agreement shall specify the relationship between the trading member and the clearing member, rights and obligations of each party, work procedures, and distribution of the commission between them. The firm shall provide the authority and market with a copy of the agreement.
Please click here for the List of Trading Clearing Members