Dubai Financial Market
Established the Dubai Financial Market as a public institution with independent legal personality, working as a market secondary trading of securities issued by joint stock companies and bonds issued by the Federal Government, or any of the local governments and public bodies and institutions in the State, as well as investment units issued by local funds, or any other financial instruments other local or non-acceptable to the local market. Has been the market opens on March 26 .2000
Objectives of the market
- Create a market for investment securities to achieve the interests of the national economy. Regulate the sale and purchase of securities so as to ensure the protection of investors from unfair practices and prohibited. - Achieve the highest degree of liquidity by allowing the forces of supply and demand free and fair interaction among investors. - To organize the transfer of ownership of securities through the Department of deposit, clearing and settlement systems and modern electronic, which holds the process quickly and effectively. - Establishing the rules of professional conduct and discipline among the staff of brokers and market in order to achieve the highest levels of integrity and provide appropriate training for them. - Collecting data and statistics on securities, and the preparation of reports based on those data and information.
The overall objective of the Department
Support the functions of the Dubai Financial Market through the mastery of performance and effectiveness, and strive to create a control system provides safe and effective performance of the confidentiality of transactions and the maintenance of information on the elements of the market, which contributes to gain customer confidence and encourage investment in securities.
Network administration
Is a separate department within the Dubai Financial Market is responsible for management and conservation of records of all securities listed on the market, believes the entry registrars those listed to the records of the clearing-house electronic data to inform their clients (investors). The management as well as net repayments of payments and net receivables from and to mediators through the Settlement Bank adopted.
The objectives of a deposit, clearing and settlement
- To provide an atmosphere of security and stability for investors to interact with the Dubai Financial Market through the confidentiality of their information and not accepting any orders informal or reliable when you perform any action. - Reducing opportunities for manipulation in securities to investors, through the control imposed on the transactions carried out by the mediator with the clearing-house for the investor. - Accuracy in receiving and giving information of the investor after confirmation of personal identity. - Perform the work efficiently by ensuring the health of applications and supporting documents attached thereto and to terminate the transactions in a timely manner. - Ensure completion of daily settlement process are accurate and correct by making sure that the receipt of all receivables from intermediaries and payment of all dues intermediaries.
Functions and responsibilities of the filing and registration
department of the Central
- The operating system's computer record of the clearing-mail on behalf of all those that have securities listed. - Operation of Automated Clearing System on behalf of the market. - Update Register of shareholders, and the integration of contributions refined to investors, and assign a number to each shareholder investor in the record. - Coordination with the Registrars those listed on the issuance and distribution of number of investor shareholders listed in the registry. - Issue No. investor to new investors. - Distribution of Investor Number on existing and new investors. - Change and update the names and addresses in the clearing system at the request of the investor. - Transfer of securities the investor to another investor as a result of the following transfers: (family, inheritance, and judicial). - Update the record upon delivery of the investor certificates of origin to enable trading on the Dubai Financial Market. - Update the log as a result of market transactions, transfers ratifiers, and the transfer of property from the investor's account to the account of the seller buyer investor (equity settlement). - Perform actions on behalf of the company's public shareholding companies listed such as: the distribution of profits, the distribution of bonus shares, capital increase and share split.
Functions and responsibilities of the Department of clearing
and settlement
- Maintaining a bank security provided by the mediator and his administration. - Receiving payments from intermediaries when there is a net amount receivable from the mediator. - Payments to intermediaries when there is an amount payable to the intermediary.
Services provided by the Department depository, clearing and settlement for investors
- Issue No. investor standard for each new investor (IN). - Issuing an account number to the management of the new investor. - Maintaining a securities the investor who does not wish to trade on it. - Balance of issuance of securities to the investor upon request. - Immediate transfer of ownership from the seller to the investor's account the investor's account of the buyer. - To issue a certificate to prove ownership of the shares at the request of the investor. - Issue and send a weekly statement of account for investors who changes have taken place on their accounts. - Issuing agency certified by the Dubai Financial Market in particular securities to facilitate the transactions of agents. - Update a database of names and addresses of investors in the clearing system at the request of the investor. - Transfer of securities the investor upon request to and from the mediator. - Transfer of securities the investor upon request from one broker to another. - Transfer of ownership of securities from one account to another as a result of transfers of the following: (family, inheritance, and judicial). - To provide the necessary information to the investor upon request. - Registration of mortgage securities for the bank after receiving the request the current mortgage. - Provide information and statistics for destinations listed its securities or Msgeleta upon request. - Responding to queries from investors.
The overall objective
Control over the various elements of the market and ensure their compliance with laws and regulations and to activate the transparency of the market to make the investment climate ideal.
Control Objectives
- Educating and guiding the various elements of the market (investors, brokers, listed companies) in relation to laws, rules and regulations to be adhered to by - Cooperation and coordination with those elements of the implementation of the commitments required of them. - To prevent tampering, and the practices prohibited in circulation. - Make sure to inform Alivsahat and information on actors, listed at one time for all investors. - Report the violations that occur and the preparation of reports and submit them to manage the market.
Sections Oversight
- The insertion and control of companies.- Licensing and control of intermediaries.- The control of the market.- Audit and follow-up
. The functions of departmentsDepartment
of insertion and control of companies
- Responding to queries from parties interested in listing, and investors on who is included.- Receive requests for insertion and treatment.- Guidance and direction to those listed to follow the rules and regulations of the Emirates Securities and Commodities Authority and Dubai Financial Market.- Follow-up disclosure for those on their financial statements, and any information affecting prices, and made available to the market management.- Provide information affecting the stock prices to all investors at the same time to enable them to make sound decisions about their investments.- Reporting to the management of the market for any violations of those listed to the laws of the Emirates Securities and Commodities Authority, the rules and regulations of the market.- Save all the documents listed on actors,
Department of Licensing and control of intermediaries
- Guidance and direction to intermediaries to follow the laws and rules and regulations. - Monitor the compliance of the law of the mediators of the Emirates Securities and Commodities Authority, the rules and regulations of the market through: * Periodic visits to offices of intermediaries to ensure the compatibility of their systems with the laws and regulations. * Follow-up requests entered through them to the electronic trading systems and clearing. * Check with the wiretapping program, in the event of any irregularities or conflicts. * Verification of commitment to intermediaries ad campaigns in newspapers and the media accepted standards. - Exam Preparation for the accreditation of the representatives of the mediators to work in the market. - Educate the brokers on the development of its own domestic regulations and procedures, and preparation of training courses to help them improve their performance. - Reporting on the performance of intermediaries and their commitment to the laws of the market management. - Act as a link between the mediators and other departments in the market. - Save all documents mediators accredited to the market.
Market Control Section
- Monitor all trading activities, including: • Monitor daily trades, transactions completed and orders entered for the system. * Monitoring changes in stock prices and quantities offered and sold in the market. * Investigate the causes of rumors in the market in coordination with the Department of Audit and follow-up. - Control of the various elements of the market transactions and their impact on stock prices. - Analysis of market activity on a daily basis. - Administration of the trading room and everything related to make sure the effectiveness of the work. - Implementation of management decisions to any of the elements of the market, whether suspension or other procedures.
