Regulation
Forms, Notices and Rulebooks
Know Your Customer (KYC)
Any firm approaches DGCX and wishes to become a member, or any existing member wishes to approach DGCX Clearing house a KYC policy is followed. The firm/member is required to provide specific documentation.
The KYC policy covers due diligence carried out by DGCX, on behalf of its Members and parties related to them, in accordance with the DGCX By-Laws, Clearing Rules and applicable SCA regulations
On an ongoing basis, KYC information provided by members is re-assessed at a minimum annually and where necessary.
DGCX follows best practice global industry standards, including following the globally recognized Financial Action Task Force (FATF) guidelines for customer identification and record keeping.
Based on DGCX By-Law E.5, and its Clearing house rules B.4.3 (e) draws reference to these requirements and require Members having the trading or clearing to adhere to these by laws and rules while carrying out the necessary due diligence of its Clients. In particular, these obligations include:
Documents are to be kept for minimum period of 10 years.
On closed accounts, documents are to be kept for minimum 10 years.
Documents are to be stored at safe location.
Documents are to be seen in original.
Documents of foreign Clients are to be notarized by a legal officer or government officer.
Client profiles are to be continuously updated.
*DGCX strictly adheres to applicable regulations in respect of KYC.
Mandatory Regulatory Requirements:
Outlines the minimum standards for capturing background information about the Client
Guidelines on what the KYC process involves and KYC supporting documents to be obtained at the time of on boarding new clients
Broker Client Agreement (BCA)
"Mandatory documents to be signed between the Broker Member and Client:
BROKER CLIENT AGREEMENT BROKER CLIENT AGREEMENT (DOCX)Risk Disclosure Statement (RDS)
"Mandatory documents to be signed between the Broker Member and Client:
RISK DISCLOSURE STATEMENT RISK DISCLOSURE STATEMENT (DOCX)Additional Requirement For Trading On Single Stock Futures (SSF):
To be signed by all Clients trading on SSF.
ADDITIONAL REQUIREMENT FOR TRADING ON SINGLE STOCK FUTURES ADDITIONAL REQUIREMENT FOR TRADING ON SINGLE STOCK FUTURES (DOCX)Rule Books
Exchange By-Laws
The Exchange By-Laws are approved by the SCA and provide rules to be followed by its Market participants.
SCA Regulations
The SCA regulations 157/R of 2005 provides for the regulations pertaining to the commodities market
SCA regulations Administrative Decision No. (123/RT) of 2017
DGCX Clearing Rules
DGCX Clearing House is legally registered under the name of The Dubai Commodities Clearing Corporation (DCCC)
Clearing rules to be followed by market participants in clearing activities are approved by the Securities and Commodities Authority (SCA).