This refers to a type of financial service where individuals or institutions act as intermediaries between buyers and sellers in the trading of various financial instruments. These brokers facilitate transactions involving commodities (such as oil, gold, or agricultural products), securities (such as stocks and bonds issued by companies), currencies (foreign exchange markets), shares (ownership stakes in companies), and bonds (debt securities). They provide expertise, market knowledge, and execution services to clients, helping them buy or sell these financial assets in exchange for a commission or fee.
The business activities that fall under Commodities, Securities, Currency, Shares and Bonds Brokers are:
Securities & Commodities Market (6611.99): This refers to a marketplace where financial instruments like stocks, bonds, derivatives, and tangible goods such as agricultural products and metals are bought and sold. It enables investors and traders to participate in the trading of securities and commodities, facilitating price discovery, capital formation, risk management, and investment opportunities. This market plays a crucial role in the economy by providing liquidity and fostering economic growth.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6611.99 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6611.99 must meet this requirement.
Foreign Shares & Bonds Broker (6612.89): This is a financial service provider that specialises in facilitating the trading of shares and bonds from international markets. These brokers assist individuals and institutions in buying and selling foreign securities, such as stocks and bonds issued by companies or governments outside their home country. They provide expertise, market access, and execution services to clients, enabling them to diversify their investment portfolios and access global investment opportunities.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.89 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.89 must meet this requirement.
Local Shares & Bonds Brokers (6612.90): These are financial intermediaries that specialise in facilitating the trading of shares and bonds within a specific local market. These brokers cater to individuals and institutions who are interested in buying and selling securities issued by companies or governments within their own country. They provide market expertise, trade execution services, and access to local market information, enabling clients to participate in the local capital markets and invest in domestic companies or government debt.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.90 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.90 must meet this requirement.
Bank Brokers (6612.91): These are financial professionals employed by banks who assist customers in various investment activities. These brokers offer advisory services, execute trades, and provide investment recommendations to clients. They specialise in a wide range of financial products, including stocks, bonds, mutual funds, and insurance policies. Bank brokers leverage their knowledge of financial markets and products to help customers achieve their investment goals and manage their portfolios within the banking institution.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.91 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.91 must meet this requirement.
Brokerage in Commodities Listed in Foreign Markets (6612.92): This refers to a business activity where brokers facilitate the trading of commodities that are listed and traded on foreign markets. These brokers assist individuals and institutions in buying and selling commodities such as oil, gold, agricultural products, and metals in international markets. They provide market access, execution services, and expertise in navigating the intricacies of trading commodities on foreign exchanges, enabling clients to diversify their commodity investments across different global markets.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.92 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.92 is exempt from this requirement.
Brokerage in Commodities Listed in Local Markets (6612.96): This refers to a business activity where brokers facilitate the trading of commodities that are listed and traded on local domestic markets. These brokers assist individuals and institutions in buying and selling commodities such as agricultural products, energy resources, metals, and other tangible goods within their own country’s market. They provide market access, execution services, and expertise in trading commodities on local exchanges, enabling clients to participate in the local commodity market and manage their commodity investments.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.96 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.96 is exempt from this requirement.
Currencies & Monetary Broker (6612.97): This refers
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.97 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.97 is exempt from this requirement.
Brokerage in Securities Listed in Foreign Markets (6612.98): This is a financial service provider specialising in facilitating the trading of currencies and other monetary instruments. These brokers assist individuals and institutions in buying and selling different currencies, such as foreign exchange, as well as other monetary instruments like money market instruments and derivatives. They provide market access, currency conversion services, and expertise in navigating currency markets, enabling clients to manage foreign exchange exposure, engage in currency speculation, or conduct international transactions efficiently.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.98 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.98 is exempt from this requirement.
Brokerage in Local Securities (6612.99): This refers to a business activity where brokers facilitate the trading of securities, such as stocks and bonds, that are listed and traded on international markets. These brokers assist individuals and institutions in buying and selling securities issued by companies or governments in foreign countries. They provide market access, trade execution services, and expertise in navigating the complexities of trading securities on foreign exchanges.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority (SCA).
- Filing of Economic Substance Return: Business activity 6612.99 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6612.99 is exempt from this requirement.
