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The Dubai Financial Market is a stock exchange located in Dubai, United Arab Emirates. It was founded on March 26, 2000. Almost 40 companies are listed on DFM till June 2006. Most of them are local UAE companies and a few from other Gulf countries with dual listings. Some of the companies allow foreigners to own their shares.


During 2004 and 2005, there were significant increases in the volume of shares traded and the share prices of many companies. However, towdards the end of 2005 and through the first few months of 2006 the bubble has burst and share values dropped by around 60% on DFM, along with similar decreases in most other Gulf stockmarkets.


DFM is one of three stock exchanges in the UAE. Abu Dhabi Securities Market (ADSM) also lists mostly UAE companies and the recently opened Dubai International Financial Exchange (DIFX) was set up to trade international stocks.


Dubai Financial Market was established as a public institution. It has its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.

Dubai Financial Market has two integrated systems for the daily operations of trading, clearance and settlement. These are Clearance & Settlement System and Trading System.

Clearance & Settlement (CSS) is a universal automated system used to conduct the daily routine business of clearance and settlement. On the other hand, Trading System is an automated system used by the brokers for their daily operations. It also enables both the brokers and investors to monitor spot orders of buy and sell.


The two systems are electronically linked and the completion of a deal on the trading floor simultaneously modifies securities holders’ register in the Clearance & Settlement System with immediate transfer of securities. Investors, thus enjoy integrated and secure service to conduct their buy or sell orders.


All securities of listed issuers are placed in the Clearance & Settlement System, which eliminates the need for the physical exchange of securities certificate and renders the process safer and more efficient.


Here are two basic requirements for the Investors to start trading in DFM:

1) Obtain Investor Number (IN) from DFM after completing "Investor Number Form" at the Investor Services Office or with a DFM accredited broker.


2) Open an account with a DFM accredited broker using "Account Opening Form".

There a
re some documents appended with "Investor Number Form" which have separate requirement for each category i.e., Separate documentation for Individuals category and for the category of Corporate Bodies. Even the Individual category has been divided into UAE nationals and non-UAE nationals.


New investors may fill “Investor Number” and “Account Opening” forms in person in the DFM or through a DFM accredited broker of their choice. The personal appearance of Investor is also made mandatory for opening the account at DFM.


Buying and selling orders can be given to the broker in person, by filling the “Buy / Sell Order Form” or by phone, fax or email based on the investor agreement with the broker. All telephone conversations, which are conducted through DFM telephone lines are recorded and could be used in the event of any dispute between investors and their brokers.


Many options are available and can be utilized in terms of the price limit and validity period.


Brokers process orders of their clients upon their request and securities’ transfer takes place automatically by the clearance system.


Payment of the dues arising from buying and selling orders are governed by agreements between the broker and his client, in accordance with DFM rules and regulations. Funds arising from selling the securities are paid to the investor within 24 hours of receiving the investor payment order or as agreed.


The UAE Government is doing her best to make Dubai Financial Market the center point and unique investment destination for all local and international investment. Also, to make DFM the most suitable place for the investors by satisfying all market categories by providing unique services and extraordinary trading environment.


DFM has been very much successful in attracting new investments and investors and brokers. It is close to reach the highest level of customer satisfaction. The ultimate goal is to create an ideal trading workplace.
For more information about Dubai financial Market visit: http://united-arab-emirates.ixs.net/general-info/dubai-financial-market/index.aspx

About the Author: Heidi Grumm hosts http://events.ixs.net and expresses her passion for events through writing and discussion. She works for Less Corporation at http://www.wicked-on-broadway.com/ Copyright Heidi Grumm