Broker Dealer Agreement

Broker Dealer Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

"Need a Broker Dealer Agreement under Saudi Arabian law for our newly licensed financial institution, focusing on electronic trading services and Islamic financial products, with planned implementation by March 2025."

Document background

The Broker Dealer Agreement is a fundamental document required for establishing securities trading relationships in the Saudi Arabian market. It serves as the primary contractual framework between licensed broker-dealers and their clients, whether individual, corporate, or institutional. The agreement must comply with the Capital Market Authority (CMA) regulations, Saudi Arabian commercial law, and where applicable, Sharia principles. It covers essential aspects such as account operations, trading procedures, regulatory compliance, risk disclosures, and fee structures. This document is particularly crucial in the Saudi market due to specific regulatory requirements and the unique aspects of the local financial system, including the need for Sharia compliance in certain transactions.

Suggested Sections

1. Parties: Identification of the broker-dealer and the client, including licensing and registration details

2. Background: Context of the agreement and regulatory framework under which services are provided

3. Definitions: Key terms used throughout the agreement, including regulatory and market-specific terminology

4. Scope of Services: Detailed description of brokerage and dealing services to be provided

5. Regulatory Compliance: Obligations under CMA regulations and other applicable laws

6. Client Classification: Classification of client according to CMA regulations and resulting obligations

7. Account Operations: Procedures for account opening, maintenance, and closing

8. Trading Instructions: Processes for receiving and executing trading orders

9. Fees and Commissions: Structure and calculation of fees, commissions, and other charges

10. Risk Disclosures: Mandatory risk warnings and disclosures

11. Anti-Money Laundering: AML/CFT compliance requirements and procedures

12. Confidentiality: Protection and handling of confidential information

13. Representations and Warranties: Standard legal representations by both parties

14. Term and Termination: Duration of agreement and termination provisions

15. Governing Law and Jurisdiction: Application of Saudi law and dispute resolution procedures

Optional Sections

1. Sharia Compliance: Required when offering Sharia-compliant products or services

2. Online Trading Services: Include when providing electronic trading platforms

3. Research Services: Required when offering investment research services

4. Margin Trading: Include when offering margin trading facilities

5. International Trading: Required for cross-border trading services

6. Corporate Finance Services: Include when offering additional corporate finance services

7. Portfolio Management: Required when providing discretionary portfolio management

8. Force Majeure: Optional clause for unforeseeable circumstances

9. Language Preference: Required when agreement is bilingual Arabic/English

Suggested Schedules

1. Schedule 1 - Fee Schedule: Detailed breakdown of all fees, commissions, and charges

2. Schedule 2 - Trading Procedures: Detailed operational procedures for trading

3. Schedule 3 - Account Opening Forms: Standard forms and documentation required for account opening

4. Schedule 4 - Risk Disclosure Statement: Detailed risk warnings and disclosures

5. Schedule 5 - Compliance Procedures: Detailed compliance requirements and procedures

6. Appendix A - Power of Attorney: Standard POA format if required

7. Appendix B - Electronic Trading Terms: Terms specific to electronic trading platforms

8. Appendix C - Market-Specific Requirements: Requirements specific to different markets traded

9. Appendix D - Client Classification Criteria: Detailed criteria for client classification

10. Appendix E - Required CMA Disclosures: Mandatory disclosures required by the CMA

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Investment Banking

Securities Trading

Asset Management

Wealth Management

Corporate Finance

Islamic Finance

Capital Markets

Investment Management

Professional Services

Relevant Teams

Legal

Compliance

Trading

Operations

Risk Management

Client Relations

Account Management

Business Development

Investment Management

Corporate Finance

Middle Office

Back Office

Front Office

Documentation

Regulatory Affairs

Relevant Roles

Compliance Officer

Legal Counsel

Head of Trading

Investment Manager

Risk Manager

Chief Operating Officer

Relationship Manager

Account Manager

Operations Manager

Chief Compliance Officer

Head of Legal

Financial Advisor

Portfolio Manager

Trading Manager

Business Development Manager

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Authors

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