Statement on Dubai Gold Securities
Dubai, 2 February, 2010
Securities Holders will be aware that on 22 December 2009, the DFM announced its planned acquisition of the NASDAQ Dubai. The Press Release announced the consolidation of key market operations functions of the DFM and NASDAQ Dubai.
The current process for creation and redemption of the Dubai Gold Securities is on a T+3 delivery versus payment basis. As a result of this acquisition and the planned consolidation of trading, clearing, settlement and custody processes between NASDAQ Dubai and the DFM, the Directors of DGS LLP are considering whether any necessary steps are required to address any proposed changes in the current operational structure of the NASDAQ Dubai. To address this issue, the Directors of DGS LLP have appointed a sub-committee which will be reviewing any changes proposed and liaising with service providers and advisers to DGS LLP in relation to any steps which need to be taken.
A further announcement on any actions required by the DGS LLP Board and DGS LLP shall be made in due course.
Buying | Selling | Market Makers | Fees & Charges
Overview
| Buying & Selling Dubai Gold Securities | Dubai Gold Securities makes it possible for investors to buy and sell gold-backed securities on NASDAQ Dubai through authorised firms. |
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| Transaction size | There is no minimum or maximum transaction size, however, the relative level of commissions charged by your broker or financial advisor may influence the minimum transaction size. |
| Liquidity | The liquidity of Dubai Gold Securities is not limited to the securities trading on the NASDAQ Dubai. (the secondary market). New Dubai Gold Securities can be created by Approved Applicants (the primary market) after they deposit gold with the Custodian. Therefore the liquidity of Dubai Gold Securities is ensured by the liquidity of the physical gold market. |
| Shariah Compliance | In order to ensure that Dubai Gold Securities are compliant with the principles and precepts of Islamic law, particularly with the rules governing the exchange of gold, a Shariah Supervisory Board of internationally recognised Scholars has been engaged by DGS LLP. |
Buying and Selling Dubai Gold Securities
Brokers
The display of this list of brokers should not be construed as a recommendation to approach or employ the services of any broker identified in the list.
Download a list of Brokers who transact in Dubai Gold Securities
Market Makers
A list of current Market Makers will be maintained on this website.
On NASDAQ Dubai priced in US$ |
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| HSBC Bank PLC | |
Fees & Charges
No additional fees currently apply to approved applicants who create or redeem Dubai Gold Securities.
Other than the annual management fee (currently 0.4% per annum) and brokerage charges no other fees or charges will apply to investors buying or selling Dubai Gold Securities on NASDAQ Dubai.
