Dubai Financial Market (DFM) postponed yesterday the introduction of three decimal tick size system on securities with a market value below Dh1, which was due today as the majority of brokers asked for more time to implement the new system. "It is noteworthy that brokerage firms have asked for more time to complete their preparations in co-ordination with vendors and to ensure that their clients are fully aware of this development," the DFM said in a statement. According to brokers in the market, the majority of brokerage firms in the country use internal systems that can handle two decimal tick size and they need to modify their systems to match the three decimal tick size. "The DFM has shifted to the Xstream system recently and we had to carry out amendments in our internal systems and they decided to introduce the three decimal tick size with a short notice. We need more time to arrange with our IT providers to update our systems," one broker told Emirates Business . Despite brokerage firms used to sign long-term contracts with IT providers for maintenance and development of their operating systems, these changes will lead to additional costs on brokerage firms which are already facing tough times.