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Connection to FORTS as a clearing member

Sections of the FORTS Derivatives market:

  • Securities section
  • Commodities section
  • Money section

Opportunities:

  • Execute trades on its behalf and at its expense
  • Execute trades on clients behalf and at clients expense
  • Settle the trades directly with the Exchange
  • Service clients including brokerage companies
  • Control activities of brokerage companies and their clients during trading

Requirements:

  • Membership of the FORTS Derivatives market.
  • License of an exchange intermediary authorizing the license holder to execute trades in commodity futures and options on the exchange. This license is issued by the Federal Financial Markets Service (FFMS).
  • Contribution to the Contingency Fund.
  • Initial Margin for proprietary and client trades.

 

I. Admission to membership of the FORTS Derivatives market

 

Required documents:

  1. Application for membership of the FORTS Derivatives market.
  2. Applicant"s questionnaire.
  3. Two references: either from two General Clearing Members, who enter the top-25 most active Derivatives market participants at least 3 (three) months in a row; or from one General Clearing Member who enters the top-25 most active Derivatives market participants at least 3 (three) months in a row and one Special Clearing Member who enters activity rating of Securities/Commodity/Money Section participants (according to the Application on admission to membership of the FORTS Derivatives market) at least 3 (three) months in a row.
    The Applicant must submit originals of the references being no more than 3 (three) months old.
    Reference letter template.
  4. Original of a quarterly report of the professional market participant (form No.1100) made by the Applicant in accordance with Regulations on reporting for professional market participants approved by a joint resolution of the Federal Securities Commission (former name of the FFMS) No. 33 and the Ministry of Finance of the Russian Federation No. 109н as of December 11, 2001. The applicant must provide the latest quarterly report submitted to the FFMS.  Instead of providing the original of the report, the applicant is able to file its notarized copy with a soft copy.
  5. Original of a document containing a latest calculation of an amount of Applicant's own funds made in accordance with the FFMS requirements to calculation of own funds of professional market participants.
  6. Agreement on rendering services of the organizer of trading on the FORTS Derivatives market (in two original copies).

The following documents shall also be submitted unless they have been submitted before:

  1. Constitutive documents.

II. Admission to trading on the FORTS Derivatives market section/sections

Required documents:

  1. Application for admission to membership of the FORTS Derivatives market.
  2. Documents proving contractual relationship with Clearing Center.
  3. Traders" powers of attorney.
  4. Statement of consent to procession of personal data referred to each authorized trader, the company's head and controller.
  5. Information on the qualification certificates of the head of the company and the controller issued by the Federal agency, with copies of qualification certificates attached (certified in accordance with the established procedure).

In addition, the following documents are required in order to gain access to the FORTS Securities and Money sections:

  1. Notarized copies of licenses of professional market participants authorizing the license holder to act as a broker, dealer and/or asset manager.
  2. Copies of qualification certificates of Traders issued by the Federal agency (certified in accordance with the established procedure*).
  3. In case of settlement, it is necessary to obtain membership of the Standard section of the Moscow Exchange securities market.

In addition, the following documents are required in order to gain access to the FORTS Commodities section as a General and Special Clearing member:

  1. Notarized copy of an exchange intermediary license authorizing the license holder to trade contracts that are recognized as derivative instruments underlied by an exchange-traded commodity.
  2. Copies of exchange broker licenses issued to each accredited trader by the FFMS that authorize these traders to trade contracts that are recognized as derivative instruments underlied by an exchange-traded commodity. The copies should be certified in accordance with the established procedure*.

* the copies must be certified by a notary public or by a chief executive officer of the clearing member or by any other authorized person (with an attached copy of the order authorizing that person to certify documents).

III. Installment of FORTS trading terminal (fees)

  • Application for login registration.
  • Signature sheet to the Agreement on the usage of the handwritten signature analogue in the Trading system of RTS Technical Centre Limited Liability Company.

IV. Depositing money to the Guarantee Fund of the Derivatives market (contributions, bank details for transfer)

V. Clients" registration

  1. Procedure for registering a Client who trades via Trader or a Gateway.
  2. Procedure for registering a Client who trades via Client's workstation.
  3. Procedure for registering a Broker's firm.
  4. Procedure for registering a Client of a Broker's firm.

VI. Installment of Electronic Document Circulation System (Mailbox and File Gateway)

VII. Gaining access to the MICEX SE subsystem of EDCS (for sending financial reports to the organizer of trading).

For additional information, please contact Client Relations Department by phone +7 (495) 363-32-32