Ansari Financial Services Online Accounts
Please review the following carefully as it contains important
information regarding the transactions:
Ansari Financial Services Policy for Fines and
Ansari Financial Services Customers shall at all times comply with the
relevant rules of the Dubai Financial Markets (the "DFM") and the Abu
Dhabi Securities Market (the "ADSM"). Ansari Financial Services shall not be
liable for damages, including without limitation direct or indirect,
special, incidental, or consequential damages, losses or expense due
to fines or penalties imposed for any trade placed by the Customer
unless Ansari Financial Services has acted in gross negligence.
If Ansari Financial Services receives any notice of a fine or penalty from
the DFM or the ADSM, Ansari Financial Services shall have the authority to
deduct such fine or penalty from the Customer's account prior to
notifying the Customer of such deduction. Ansari Financial Services shall
promptly notify the Customer of the fine and the resulting deduction.
Customer shall have two calendar weeks from the date Customer receives
the notification of the fine or penalty during which to contest such
deduction with Ansari Financial Services.
Any violations of the rules are subject to market fines that range
between AED 1,000 to AED 100,000 per violation and will be debited
directly from your account. Ansari Financial Services has provided a brief
overview of some of the prohibited, restricted and market manipulative
transactions subject to fines (see below). It remains your obligation
however, to ensure that your trades are properly placed. For a more
complete understanding of the fines which may be imposed please
The DFM Rules and Regulations which can be found at the
Investor's Services Desk at the DFM or at:
The ADSM Rules and Regulations at:
The Securities and Commodities Authority at:
Market Trading Session:
The DFM & ADSM are open for trading from 10:00 to 13:00 every
weekday except for public holidays. There is a pre-opening session
from 9:30 - 10:00, where orders can be placed but can only be executed
during the session
All or None Order (AON): A condition used on a buy or sell
order to instruct the broker to fill the order completely or not at
Cancel Former Order: An order to cancel a previously placed
Limit Order: An order placed with a brokerage to buy or sell
a set number of shares at a specified price or better.
Market Order (price-protected): An order to buy or sell a
stock immediately at the best available current price. Upon the
determination of the market price, a market order converts into a
limit order and the stock can only be bought or sold at the limit
order price or better until the order is completed. (this feature is
not available on E-Trade)
Unpriced Order: An order to buy or sell a stock immediately
at the best available current price. If the unpriced order cannot be
completely filled, it does not convert into a limit order, and
therefore the stocks can continue to be bought or sold irrespective of
price until the order is completed. (this feature is not available on
Transactions which are subject to Fines:
Market Orders or Unpriced Orders may not be placed prior to or
after the Market Trading Session
All other orders that are placed cannot be modified or cancelled
between 9:50am - 10:00am.
Buy and Sell Orders for the same stock at the same price cannot
be placed until they are executed.
Orders that are placed as All or None cannot be modified if the
amendment is for a large price difference from the original order
Restrictions on Amounts Traded:
Dubai Financial Market:
Minimum Order: All trades valued at less than AED 15,000 must be
placed as all or none.
Maximum Order: There is no maximum amount for an order placed. Abu Dhabi Securities Market:
Minimum Order: Orders less than AED 300,000 cannot be placed as an
All or None order.
Maximum Order: The maximum order amount is AED 10,000,000.
Market practices designed to manipulate the price of stock listed
on the U.A.E. exchanges are strictly prohibited. Therefore any order
placed to manipulate the price of a stock which is later cancelled if
the price approaches the trade price is prohibited. The orders deemed
by the respective Market Control as an attempt to manipulate the
market prices will be punishable by fines imposed by the market and
may be cancelled at the Market Control's discretion.
Execution of Time - Limited Orders (Weekly, Monthly or Good 'till
Cancelled): Orders which do not expire if they are not executed
immediately will be suspended if they are not within the range of the
daily trading limits. Ansari Financial Services will resume the orders on a
daily basis if the price is within the range of the daily trading
limits. If you believe that the order is within the daily trading
limit please contact one of our brokers in order to resume the order.
You may modify or cancel the order at any time subject to the rules
and regulations of the respective market. If the order is not
cancelled or has not expired it shall be considered to be in good
order and may be executed without giving you any prior notice that
the order is no longer suspended.
Orders Placed Outside of Market Trading Sessions: Non-prohibited
orders or transactions may be placed at any time during the day (24
hours), not only during the Market Trading Sessions. Any order placed
when the Market Trading Session is closed, will automatically be
carried forward and queued for placement for the next Market Trading
Session unless the order is cancelled by the user
Inherent Risks of Market Trading: The Customer accepts that the
price of Securities can and does fluctuate and any individual
security may experience upward or downward movements and even become
valueless. There is an inherent risk that losses may be incurred
rather than profit as a result of buying and selling Securities.
Securities purchased may become incapable of being sold. Investments
should be made in light of careful analysis and only to the extent an
investor can reasonably afford. The Customer must assure himself of
his Broker's honesty and competence otherwise the Customer risks his
investment being made inappropriately or even that they may be
misappropriated and he may not get back the full amount originally