MARKET INFORMATION
Dubai Financial Market
http://www.dfm.ae/

 

Trading Hours

Pre-opening session

09:30 – 10:00
(during the last 5 mins in the pre-open, tickets cannot be cancelled)

Continuous Trading

10:00 – 14:45

Closing auction

14:45 – 15:00

Time Zone

GMT+4

Trading Days

Monday – Friday

Trading Currency

UAE Dirham (AED)

 

Main Index

Dubai Financial Market General Index is an all share index and weighted by free float market cap

Reuters code

.DFMGI

Bloomberg code

DFMGI

Exchange Code

Reuters code

DU

Bloomberg code

UH

Trading ID/ Trading Requirements

National Investor Number (NIN)

Settlement Cycle

T+2

Current Index Status

MSCI EM - FTSE EM

Market Cap

USD187.2 bn
Average Daily Value Traded
YearAVG VALUE TRADED
2022 $97.2mn
2023 $110.6mn
MARKET DYNAMICS

Stock Limit
Up/Down

 

+15%

from previous close

-10%

from previous close

Tick
Size

 

 

Price Range

Tick
Size

From

To

Below AED 1.00

0.001

1.00

10.00

0.01

Above 10.00

0.05

Off-Market
Crosses


Available and they include:

1) Direct Deal
2) Special Deal

Details available upon request

Board
Lot

No board lots.

Iceberg
Orders

Available

Official
Closing Price

 

Matched price in the closing auction or the last traded price prior to the auction in case no matching occurred in the auction..

Closing
Auction

Its a 15 mins auction.
- from 14:45 - 14:53: adding, amending and canceling are possible
- from 13:53 - 13:55: no amendments/ cancellations, can only improve
 - from 14:55 - 15:00: Trading at last.

Crosses


Crossing can be done in market spread during the regular trading hours. Trades above AED 20mn per nin cannot be executed before getting the market’s approval.

MARKET REGULATIONS
Foreign Ownership Restriction
Foreign ownership limit range from 15% - 100% of listed stocks, this may vary according to the articles of each company. Also it’s worth noting that in some cases, GCC investors are considered foreign. Some companies are totally restricted for foreigners. Further details on official website
Disclosure Rules
At 5% ownership of any listed company and at every additional 1% ownership, a disclosure is required and before reaching 30% ownership the market regulator approval is required. In case the company in question is a bank then the Central bank approval is required before reaching 5%
Securities Lending/ Short selling
Regulated Short Selling introduced 10th Jan 2018. Standard concepts with local nuances. Co-ordinated by a nominated domestic broker, bi-lateral agreements apply, no centralized pool. Further detail available upon request
Crossing Restrictions
Same nin crossing is available pending the exchange’s approval and valid
indefinitely
Timeline for New NIN Setup
10 minutes
Client Account Structure

* A dual account structure is standard in DFM. At the custodian each NIN will have a Registry Account and a Trading Account

* Clients have the option of maintaining their inventory either in their Registry Accounts or their trading Accounts

* Pre-validation must take place prior to the execution of sales – i.e. availability in the trading account must be confirmed pre-trade

* If shares are not available in the trading account they must be transferred. Clients can either instruct their global custodians to undertake the transfer or a more expeditious option is to authorize a local/International broker to do so on their behalf (stock transfer should take no longer than 45 minutes

Failing Trades

Sales: subject to a buy-in if trade fails to settle by 1pm (local time) on T+4

Purchases: subject to a sell-out if trade fails to settle by 1pm (local time) on T+4

Late settlement fees AED 500 or 5bps whichever is higher on T+3 & additional AED 2,500 or 25bps whichever is higher on T+4

Sell-outs take place on the normal market screens

Buy-ins take place on a separate platform which is open from 15:30 - 15:45

Bids will be placed and any sellers may offer blind at any price

Settlement of any sale in the buy-in market takes place on a T+1 basis

MARKET FEES & TAXES
Market Fees 15bps
(breakdown is available)
VAT Applicable on both market fees and broker commissions.
Currently levy 5%
Withholding Tax None
Capital Gain Tax None
Dividend Tax None