Mashreq Securities

NASDAQ Dubai Account Opening Form

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Application Date:

Investor Type:		Individual	Company	Guardian	Authorized
Account Type:		Individual	Company	Joint Account	Related Employee

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INDIVIDUAL DETAILS


Name(As on passport) *:

Occupation/Position*:

Employer & Business Address*:

Passport No.* :		Driving License No.:
Marital Status* :		Date of Birth* :

Nationality *:

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Full Address


Physical Address *:

Country *:

City *:		P. O. Box *:

Mobile *:		Fax:

Res Telephone *:		Office Tel *:

Email Id *:

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Settlement account Details

USD Mashreq Account No.* :

Financial Worth & Investment Goals


Previous Investment Experience *
Expected duration of securities trading *
Monthly Income :
Statement which appropriately describes your risk appetite and investment return:

FINANCIAL LIABILITIES DETAILS

Do you have Financial Liabilities?

Loans /finances/ Mortgage*	Name of Lender*	Amount*	Currency*






To add more liabilities, please attach a signed separate sheet to the application form

DECLARATION
I (we) the Undersigned do hereby apply to open an account with Mashreq Securities and acknowledge that all the information provided in this application and the entire document attached thereto are legitimate, accurate and correct. I (we) undertake to abide by the applicable rules and regulations governing our trading and ancillary activities and authorize the above mentioned brokerage firm to sell and buy any securities traded on the Exchange. Such acknowledgement and undertaking shall be irrevocable and unchallengeable by me (us) or any other agency. I (we), the undersigned do hereby acknowledge that the price of securities can and does fluctuate and any individual security may experience upward or downward movements and even become of no value. I (we) further acknowledge that there is an inherent risk that losses may be incurred rather than profit as a result of buying and selling securities and securities purchased may become illiquid. I (We) also understand that (i) investments should be made in light of careful analysis and only to the extent an investor can reasonably afford, (ii) 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 invested. I (we) do hereby grant the above mentioned brokerage firm the right to take all the actions or procedures it deems appropriate in accordance with the applicable rules and regulations, including sale of my (our) securities relating to all my (our) accounts with them if I (we) fail to settle my (our) financial obligations, and shall undertake to pay all commissions, fees, fines, and any differences in securities prices resulting therefrom. I (we) do hereby also authorize and give my (our) irrevocable consent to Mashreq Securities for recording and archiving all telephone and verbal orders, requests and conversations made by me/us in respect of the sale and purchase of securities traded on the authorized markets. I (we) have received, read and understood the Brokerage Services Agreement for DIFX Trading and in witness hereof I (we) have signed. Individuals..... Proof of ID : -Passport copy of each account holder, verified by Mashreq Securities or a correspondent institution or notarized and authenticated -Current Signed ID Card (or other identification documentation that is customary in the country of residence such as driving license, Social Insurance Card, etc. having a clear photograph) or Khulasat Al-Qaid (for UAE residents) -An original document showing each account holder's name and physical address as provided in bank statement, utilities bills etc. Proof of Address (any two) -Bank Statement - Tenancy Agreement - Utility Bill - Local Authority Tax Bill Other Documents: -Notarized Power of Attorney in case of authorized representative(s) & Guardianship documents authenticated by UAE Court or relevant Embassy for minor investors (under 21 years of age) Corporate/ Financial Institutions: -Certified copy of either the certificate of incorporation or the trade register entry and the trading license including the renewal date -Copy of the extract of the register of the regulator or exchange, or state law or edict creating the entity -Certified copy of the Memorandum and Articles of Association or other constituent document -Latest annual reports, audited and published, if applicable -Certified copies of the list of authorized signatories specifying who is authorized to act on behalf of the customer account and of the board resolution authorizing the signatories to operate the account -Certified copies of the identification documentation of the authorized signatories or certified passport copy of each of the authorized signatory -Names, country of residence, nationality of directors or partners and of the members of the governing body -List of the main shareholders holding more than 5% of the issued capital Unincorporated Businesses or Partnerships: -Trading license, with renewal date -Regulated body, if applicable -List of authorized signatories of the business or partnership -Certified copies of the identification documentation of the authorized signatories -Latest annual reports and accounts, audited where applicable, and -Certified copy of the partnership deed Mashreq Securities has been duly authorized by the Emirates Securities and Commodities Authority (ESCA) to trade on Dubai International Financial Exchange (DIFX) on behalf of its clients, through Mashreq Capital (DIFC) Ltd.
I hereby confirm that I have read, understood, and agree to the above mentioned Declaration.Open Declaration

BROKERAGE SERVICES AGREEMENT
BROKERAGE SERVICES AGREEMENT FOR NASDAQ DUBAI TRADING....The purpose of this letter agreement is to make available to you one or more investment accounts. Such accounts/facilities will allow you to access securities listed on the Dubai International Financial Exchange (NASDAQ DUBAI) on the following terms and conditions:- 1. The Account A. We (Mashreq Securities) hereby agree to open and maintain one or more investment accounts for you (the “Account” or the “Accounts” as the context requires) to enable you (i) to purchase, sell and invest in such mutual funds, bonds, preferred stocks, equities and other securities and derivatives of securities and related products as are available through us from time to time (the “Securities”) and (ii) to enter into contracts with us for the purchase and sale of Securities. For the purposes of this letter agreement, the term “Securities” shall include securities approved and accepted by Mashreq Securities for trading and collateral purposes and also includes all other kinds of securities and instruments, both debt based and equity based, shares, scripts, commodities and all equity and commodity based derivative products which are tradable at any locally and/or globally recognized stock exchange(s). B. We shall have no responsibility to make available or to continue to make available any particular Security. Nor shall we be obliged to enter into any contract with you for the purchase or sale of Securities or accept any offer made by you in respect thereto. C. Subject to our discretion, we may open separate Accounts for different kinds of Securities traded hereunder. D. All of your transactions (each, a “Transaction”) relating to Securities may be posted to the relevant Account. E. We have opened securities trading and custodian service accounts with third parties. On your instructions to purchase or sell Securities, we may purchase or sell Securities through such accounts. F. All sums deposited by you shall be credited to the relevant Account. G. Our current fees, commissions and charges relating to the Transactions and each Account are set forth in Annex I to this letter agreement. Any fees, commissions or charges not set forth in Annex I shall be provided to the Customer upon request. 2. The Securities A. On receipt of valid instructions from you to effect Transactions (the “Instructions”), we will, subject to the terms of this letter agreement, implement the Instructions including, without limitation, the purchase of Securities in our own name or in the name of a nominee but for your sole risk and benefit. . B. Unless otherwise notified to you, custody of the Securities purchased for you or sold to you will be held by us or our nominees at your sole risk, responsibility and liability. C. The Securities purchased by us for you or sold for you may be pooled with the Securities purchased or sold by us for other customers, and all Securities will be treated as fungible for purposes of allocation among our different customers. 3. Transactions A. Transactions for listed Securities will in addition to the terms of this letter agreement be subject to the terms and conditions of the issuer of the Security, including limitations relating to investment level, tenor, cost, procedure and frequency of purchase, sale, redemption, conversion and valuation, and the terms and conditions of the exchange or market on which the Security is listed or the Transactions are effected. B. The Customer acknowledges that Mashreq Securities and any other relevant third party may from time to time impose conditions for any Transaction. C. The terms and conditions applicable to a Transaction will be detailed in a confirmation sent from us to you. Non-receipt of such confirmation will not affect the validity of such Transaction. D. You agree to perform your obligations under (i) Transactions entered into pursuant to any Instruction, offer or acceptance purporting to come from you and honestly believed by us to have come from you or (ii) any Transactions entered into by us for an Account by virtue of authority granted to us by this letter agreement, whether or not we shall have given you written confirmation of the terms of such Transactions. E. You agree to comply strictly with the terms of all Transactions. F. On the settlement day of each Transaction, you hereby irrevocably authorize us (but without obligation on our part) to settle any amounts due from us to you or due from you to us and pay to you any surplus or as the case may be demand from you any deficiency, whereupon you shall immediately pay in full the amount so demanded. G. If you fail to pay when due any amount payable pursuant to this letter agreement or under a Transaction, you shall pay on demand interest on the overdue amount from the due date until it is paid at the rate that we determine to be one percent (1%) in excess of our then current rate for overdrafts in the relevant currency. 5. Availability A. The Accounts and the ancillary facilities shall only become available to you after you have confirmed your agreement to the terms of this letter agreement by signing and returning to us the enclosed copy. B. We may at any time and for any reason close an Account and cancel other facilities by giving 5 Business Days notice to you to liquidate any Open Positions and make payment of any deficit or other amounts owing by you to us. Your failure to liquidate such positions and pay such amounts during the notice period will give us the right to do so. 6. Instructions A. Instructions may be made in writing, by facsimile or by telephone and (regardless of how the offer is made) may be accepted by any of those means. B. We are under no obligation to comply with any Instructions, or related instructions, requests, orders or acceptances (collectively, “Communications”) that are not in accordance with the terms of this letter agreement or in compliance with applicable law, any conditions of the issuer of the Security (if applicable) and any conditions of the relevant exchange or market (if applicable). C. We shall be entitled to refuse to execute any Instruction or other Communication if sufficient cleared funds for the requested transaction are not available in the relevant Account. D. Telephone Communications and all other telephone conversations with us may be tape-recorded. You recognize that by tape-recording telephone Communications and conversations both parties are afforded protection, and you authorize and consent to such tape recordings and hereby agree to the use of such recordings as evidence in any dispute between you and us. E. All Communications between you and us shall be in the English language and shall not take effect or bind us unless and until they are actually received and accepted by us. F. You hereby agree to indemnify us and keep us indemnified against any liabilities, losses or costs that we may incur as a result of acting in reliance on any Communications purporting to come from you or from a person having authority to give such instructions or requests on your behalf and honestly believed by us to have been given by you or by a person having such authority, whether or not we shall have given you written confirmation of such instructions or requests. G. You hereby acknowledge that misunderstandings, mistakes or errors may occur by either party, in the course of communication by telephone or facsimile and that we shall not be held liable towards you for any kind of liability, financial or otherwise, arising out of such misunderstanding, mistakes or errors. H. We reserve the right (but without obligation on our part) to require you to confirm to us by telephone or facsimile any Communications coming or purporting to come from you or from a person having authority to give such Communications on your behalf before giving effect to them. I. We will provide to you periodic Account reports setting forth the Securities and Transactions and the fees, commissions and expenses charged to the Accounts. 7. Collateral Security If any amount payable to us is not paid when due, you hereby irrevocably authorize us (but without obligation on our part) to merge, consolidate or combine all or any of your accounts with us or any of our branches and to apply and set-off any credit balance in any currency standing to the credit of any such accounts with us or any of our branches in or towards satisfaction of any sum, whether principal, interest or otherwise at any time due to us and you hereby irrevocably authorize us in your name to do all such acts and to sign all such documents as may be required to effect such application (including the conversion of any currency upon such terms, at such rates and in such manner as we may in our absolute discretion determine). 8. Right to Close Out all Transactions - If on any day we determine, in our sole judgment, that (a) the credit balance in an Account falls below the minimum credit balance (if any) applicable to such Account, the Account does not satisfy the minimum margin (if any) applicable to such Account or your liability to us under any Facility exceeds the maximum liability (if any) applicable to such Facility or (b) an Event of Default has occurred, you hereby irrevocably authorize us to close all or some of your positions under some or all of your Accounts as we may select and deem appropriate. We shall not, however, incur any liability to you by reason of any action or inaction on our part in respect of this Clause and you shall remain fully liable for all losses that you may incur hereunder and in connection with the Transactions. 9. Events of Default - If you fail to pay any amount due hereunder or under a Transaction on the due date, or if you fail to comply with any term or condition of this letter agreement or if you shall be in default under any obligation for borrowed money or under a guarantee or an indemnity, or an effective resolution shall be passed or equivalent proceedings shall be commenced for your winding up, bankruptcy, liquidation or dissolution, or a receiver or trustee in bankruptcy shall be appointed or take possession of all or a substantial part of your assets, or you cease to carry on all or any material part of your business or you suffer a material adverse change in your financial or other condition as a result of which we deem it unlikely that you will be able to fulfill your obligations hereunder, then at any time thereafter, in addition to all other rights available to us by law, we shall have the right, upon giving you notice in writing:- A. to declare any or all Accounts as closed and/or any or all Facilities as cancelled whereupon they shall stand closed and/or cancelled and will cease to be available to you; and/or B. to close out all your Open Positions by entering into such transactions on your behalf as we deem appropriate; and/or C. to apply all sums of money and Collateral pledged pursuant to Clause 7 towards satisfaction of your obligations under this letter agreement including without limitation under all Transactions. 10. Payments - All sums payable by you under this letter agreement and under all Transactions shall be paid in immediately available and freely transferable funds in the currency in which it is expressed to be due in accordance with our instructions. All such payments shall be made without set-off or counter-claim and free and clear of and without deduction or withholding for or on account of, any present or future taxes, levies, imposts, duties, charges or withholdings of any kind whatsoever, but if you are required by any present or future law, regulation or practice to make any such deduction or withholding or if we shall be required to make any payment on account of tax or otherwise under any present or future law or regulation on any amount received by us under this letter agreement or under a Transaction, other than tax on our overall income, then you will forthwith pay to us such additional amounts as will result in our receiving or retaining the same amount as we would otherwise have received or retained had no such deduction, withholding or payment been made. 11. Indemnity - You shall indemnify us and keep us indemnified against all claims, costs, losses and expenses (including legal fees) which we may suffer or incur as a consequence of our entering into or performing under this letter agreement or any Transaction or any default by you under this letter agreement. For the avoidance of doubt, your indemnification obligations to us hereunder shall survive the closure of the Accounts, the cancellation of the Facilities or the termination of this letter agreement. 12. Clearing Broker Arrangements - You fully understand and agree that in effecting Transactions at your instruction, we may use the services of such clearing brokers as we may from time to time determine. Any insolvency or default of such clearing brokers involved with a Transaction may result in losses to you. If through breach, bankruptcy or default on your part, we fail or cease to comply with any undertaking to such clearing brokers, you will fully indemnify us for and in respect of all charges arising in respect thereof. We shall not be responsible for any losses, damages, liabilities or expenses incurred by you arising from the failure of any clearing brokers and other third parties to perform their functions accurately or within the customary or requisite time period. In no event shall we be responsible for any indirect or consequential damage or loss. 13. Corporate Actions - A. As the registration of the Securities shall be in our name or in the name of our nominee, voting rights shall be exercised by us as deemed appropriate and necessary and you undertake and acknowledge due delegation of this right to be exercised solely by us, without any requirement of any intimation or approval from you. B. Since the Securities shall be held in a pool and this may consist of more than one investor, any bonus shares and/or cash dividends shall be distributed by Mashreq Securities on a pro rata basis amongst the eligible investors after deducting any expenses/charges/ fees payable by you to Mashreq Securities. In the event of a rights issue, in respect of any Securities, you shall be obliged to make available the necessary funds, as intimated to you by us for subscription to the rights issue. If you fail to make available such funds then you understand and agree that you will not be entitled to subscribe to any additional shares in the rights issue and accordingly abandon and waive any right to subscribe to the same. 14. Miscellaneous - A. All references to time and periods of time herein shall be construed in accordance with and based on the Gregorian calendar. B. If this letter agreement is addressed to more than one person, all references to “you” in this letter shall be deemed to refer to all those persons and their liability under this letter agreement shall be joint and several. We may treat any offers, acceptances, instructions or requests coming from any of you as being binding on all of you. C. Whenever we are to give you written notice pursuant to this letter agreement, such notice shall be effective if sent to you by facsimile to your facsimile number set out in this letter agreement or if it is sent to you by courier service to your address set out in this letter agreement (or to such other facsimile number or address as you may notify us in writing from time to time). If a notice is transmitted to you by facsimile during normal business hours, it shall be effective upon receipt or, otherwise, on the next Business Day and if it is sent to you by courier service, it shall be effective two usiness Days after it is delivered to a representative of the courier service. D. Whenever this letter agreement provides for you to give us an Instruction, Offer or an acceptance of an Offer, it shall be addressed to one of our dealers at our principal office in Dubai at the following telephone number (or such other numbers as we may notify to you from time to time): Telephone: +971 4 363 2222 E. When used in this letter agreement, the term “Business Day” means a day on which banks in Dubai are open for domestic and foreign exchange business and, in the case of any transaction requiring a payment to be made, a day on which banks in the principal domestic financial centre for the currency in which the payment is to be made are also open for such business. F. You may not assign any of your rights under this letter agreement. G. You agree that we and/or our clearing agents may provide your name and address and information about the Accounts or any Transaction to any local or foreign regulatory authorities that we and/or such clearing agents may deem is lawfully entitled to such information. You further agree that we may from time to time share information obtained by us regarding you and the Account with our affiliates, agents and third party service providers. H. This letter agreement shall be binding upon your heirs, executors, administrators, personal representatives and successors, and this letter agreement shall not terminate automatically upon your death or disability. Notwithstanding the foregoing, however, we shall be entitled, in our sole discretion, to suspend operation of the Accounts and to decline to accept instructions in relation thereto pending receipt of a court order or instructions, in form satisfactory to us, signed by the remaining Account holders or by your heirs, executors, administrators, personal representatives or successors. I. We shall be entitled without prior notice to you to make any currency conversion we consider necessary or desirable for the purposes of complying with our rights under this letter agreement or any Transaction. Any such conversion shall be effected by us in such manner and at such rate as we may in our discretion determine. All foreign currency exchange risk arising from any Transaction or Security or from the compliance by us with our obligations or the exercise by us of our rights under this letter agreement or with respect to any Transaction shall be borne by you. J. We shall be at liberty to amend the terms and conditions of this letter agreement and any annex to this letter agreement at any time. You will be informed of the amendments in writing, and in the absence of any objection notified within a period of 14 working days from the date we sent such amendments, the amendments will be deemed to be approved by you. We shall be at liberty to close the Accounts and/or cancel the Facilities if you object to the proposed amendments. K. The annexes to this letter agreement shall be considered an integral part of this letter agreement. 15. Governing Law - This letter agreement shall be governed by and construed in accordance with the laws of the Emirate of Dubai. 16. Arbitration - Any claim or dispute of any kind whatsoever between the parties under or arising out of this letter agreement or in connection with the legal validity thereof or any other agreement between Mashreq Securities and the Customer concerning the subject matter of this letter agreement, shall be resolved by arbitration in accordance with the rules of arbitration of the Dubai Chamber of Commerce and Industry (the “Rules”). The arbitration proceedings will be held in Dubai. There shall be one arbitrator appointed by the mutual consent of the parties from amongst the resident partners in Dubai of any one of Price Waterhouse Coopers, Ernst & Young, KPMG or Deloitte & Touché. In case of disagreement, the Dubai Chamber of Commerce and Industry shall appoint an arbitrator among the said resident partners. The language of the arbitration shall be English. The arbitrator shall Signature …………………. have the power to order any relief on a provisional basis which he would have the power to grant in a final award, and either party may bring an action or proceeding in any court of competent jurisdiction for the enforcement of such provisional relief. The arbitrator shall render his award substantially on the basis of this letter agreement, in accordance with the Rules, and its subsequent amendments, if any, and such an award shall be final, conclusive and binding on the parties, their respective heirs, successors and permitted assignees, as if duly issued by a U.A.E. civil court. The party indicated in the award shall pay all the costs of such proceedings (including the fees of the arbitrator and of any independent experts and advisors instructed by the arbitrator in connection with the arbitration). The award may be enforced in any court of competent jurisdiction. 17. Acknowledgements - You acknowledge that: A. We do not and will not give you any advice or recommendation with respect to your instructions, the Transactions or the Securities. B. Our representatives are not authorized to give any advice or recommendations with respect to your instructions, the Transactions or the Securities. If for any reason, you treat any information given to you by us as an advice, it shall be deemed as mere information provided to you by our representatives in their personal capacity and not on our behalf. C. We may from time to time make available information to you for general information purposes only, and in doing so, we will not have taken into account your investment objectives, financial situation or particular needs. D. When giving any instructions, entering into any Transactions or purchasing or selling any Securities, you will rely on your own judgment, assessment or evaluation having regard to your investment objectives, financial situation and particular needs and having obtained appropriate independent advice. E. You have read, acknowledge and understand the contents of the risk disclosures enclosed with this letter agreement.
I hereby confirm that I have read, understood, and agree to the above mentioned Brokerage Services Agreement.Open Brokerage Services Agreement



How did you hear about us?




Investor Name* :	Signature & Stamp:	............................................

Mashreq Securities L.L.C.

7th Floor, Al-Ghurair Office Tower No. 4, Deira, Dubai, United Arab Emirates P.O. Box 1250, Dubai – U.A.E., Telephone:+971 4 363 2222, Fax. +9714 424 7322, Email. info@mashreqsecurities.com. www.mashreqsecurities.com.

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