The Dubai Fiscal Stock is a stock barter placed in Dubai, Dubai finance United Arab Emirates. It was established on March 26, 2000. Almost 40 firms 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 permit strangers to own their shares.
In the period of 2004 and 2005, there were essential increases in the volume of shares traded and the share prices of many companies. But, towards 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 stock markets.
DFM is one of three markets in the UAE. Abu Dhabi Securities Market (ADSM) also lists mostly UAE corporations and the recently opened Dubai International Financial Exchange (DIFX) was set up to trade international markets.
Dubai Fiscal Market business Dubai was placed as a public settlement. It has its private independent corporate body. DFM is operating as a secondary market for selling of securities issued by public shareholding firms, 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 strange, 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 general automated system used to accompany 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 businesses. It also enables both the brokers and investors to monitor spot orders of buy and sell.
The two systems are electronically connected 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 needs for the Investors to start trading in DFM:
1) Receive Investor Number (IN) from DFM after filling in “Investor Number Form” at the Investor Services Office or with a DFM accredited agent .
2) Open an account with a DFM accredited broker using “Account Opening Form”.
There are some issues appended with “Investor Number Form” which have detached requirement for each category.
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