Transfer of Margin Financing Businesses between Clearing Members

Dubai Clear facilitates the transfer of both the Liability Sum and the Securities Margin Financing (SMF) between the Transferee Clearing Member and the Transferor Clearing Member upon the request of Clearing Members.

AED 25 per listed company.

Note: All current fees are subject to VAT. The fee will be added to invoices as per the UAE Federal Law No.8 of 2017.

1. Complete the Transferor request form entitled “Transferor’s Request (Trading/Trading Clearing Member) to Transfer Securities Financed by Margin” and have signed by the transferor member and investor
2. Complete the Transferee request form of “Transferee’s Request (Trading/Trading Clearing Member) to Transfer Securities Financed by Margin” and have signed by the transferee member and investor. In addition, attach certified a copy of the Margin Finance Transfer Agreement signed by the investor, the transferor and transferee members and Financial Institution (If applicable)
3. Submit the completed forms to the Dubai Clear as the details below.
4. Transferee member should pay the total liabilities and transfer fees to the DFM account with Emirates NBD bank. A request to deduct the liability amount from the settlement account of the transferee member will also be accepted, provided that the transferee member notifies Dubai Clear via email and provides proof confirming the availability of the liability amount in the settlement account.
5. Dubai Clear will proceed with the transfer request after verifying the signatures, taking internal approval and upon receipt of the fees and total liabilities.
6. Dubai Clear will then send instructions to the settlement bank to debit the DFM settlement account and to credit the Transferor settlement amount.
   

1. Completed Transferor request form “Transferor’s Request (Trading/Trading Clearing Member) to Transfer Securities Financed by Margin” signed by the transferor member and investor.
2. Completed Transferee request form of “Transferee’s Request (Trading/Trading Clearing Member) to Transfer Securities Financed by Margin” signed by the transferee member and investor.
3. A certified true copy (CTC) of the Transfer Financed Margin Agreement should be attached with the Transferee’s request, which should be signed by the Transferor, Transferee and investor and Financial Institution (If applicable).
4. Transferee member must pay the total liabilities to the DFM account with Emirates NBD bank (IBAN # AE200260000512063720939).
5. Transferee to pay the transfer fees amount to the DFM account with Emirates NBD bank (IBAN # AE370260000412063720929).