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Admitting Section Members to Trading

Admitting Members of the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section to Trading

According to the Rules of the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section and the MICEX Rules of Clearing for Trades Made in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section, to be admitted to making trades in forward instruments with the underlying asset in the form of grain, a Section Member must comply with the following conditions:

1. Be accepted to settlement and clearing services by MICEX.

For settlement and clearing servicing to be performed in making forward trades, a Section Member must complete the following procedure:

Open a bank account with the MICEX Settlement House

Connect to the MICEX SH Electronic Settlement System via the Internet Bank-Client System.

Execute the Agreement to the Bank Account Contract for Performing Settlement Operations in Sectors of the Organized Securities Market (OSM) with the MICEX Settlement House.

NOTE: Please contact the Department of Corresponding Accounts and Settlements of the MICEX SH at (495) 745–81–09; 705–96–26 for any questions.

Submit the Contract for Clearing Services for Trades Made in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section (“Section”) to MICEX.

The Contract must be submitted in two copies signed by the Section Member.

The following documents must also be submitted to MICEX:

  • Application for Acceptance to Clearing Services (Supplement No.3 to the Rules of Clearing)

The following documents must be attached to the application
(except for organizations that are Section Members in other MICEX markets):

  • a notarized copy of the Charter;
  • a notarized copy of the state registration certificate;
  • a notarized card with the seal and signatures.

2. Execute the Contract on Providing Integrated Technological Services in the Section.

The Contract must be submitted in 3 copies signed by the Section Member.

The following documents must also be submitted:

  • Power of Attorney in the Name of an Authorized Person (Supplement No.5 to the ITS Contract);
  • Power of Attorney in the Name of the ITS Administrator (Supplement No.6 to the ITS Contract);
  • Application for Providing Technological Access to SHC TC Subsystems (Supplement No.7 to the ITS Contract).
  • Application for Transmitting Electronic Documents to MICEX (Supplement No.2 to the Rules of Clearing).
  • Application for Providing Documents in the Form of Electronic Documents in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section (Supplement No.2 to the Rules of Trading).

NOTE: For more information on executing the contracts for clearing services and the ITS Contract, please contact the Standard Contracts Market Department at (495) 705–96–27

3. Execute the Contract Granting the Non-Exclusive Right to Use MICEX Commodities Trader Software and the Certificate of the MICEX Commodities Trader Software’s Readiness for Use.

NOTE: For more information on executing the contract, please contact the MICEX Information Sales Department at (495) 411–82-54 and (495) 234–24-77,extension 20–36.

4. To receive reports on the results of trading, submit information on clients using the NAMEX EDCS subsystem, and receive cryptographic protection keys for working in the MICEX Commodities Trader trading system, a Member must be a Participant in the MICEX EDCS.

NOTE: For more information on generating and receiving keys, please contact MICEX Security Services at (495) 745–81–20.

5. Review the Procedure for Using Electronic Documents Sent from Remote Workstations for Delivering Orders for Making Trades and Instructions on Canceling Requests in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section (“Procedure”) and, if choosing to access trading via the Internet, execute the Notice of the Possibility of Using Electronic Documents Sent from Remote Workstations (Supplement No.2 to the Procedure).

NOTE: The executed Notice must be submitted to the MICEX Information Sales Department together with the Contract Granting the Non-Exclusive Right to Use MICEX Commodities Trader Software. Tel. (495) 411–82–54 and (495) 234–24–77, extension 20–36.

6. Review the functions of the MICEX Commodities Trader trading system and take part in test trading.

7. Perform combined testing of the hardware and the software.

NOTE: For more information on equipment testing, please contact the Client Software Maintenance Service at (495) 705–96–82.

8. Submit the following documents as specified by the Rules of Trading in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section (“Rules of Trading”) to NAMEX:

  • Application for Admission to Trading in the Section (Supplement No.3 to the Rules of Trading);
  • Power of Attorney for Performing Operations in the Section in the Names of the Section Member’s Authorized Representatives (Supplement No.4 to the Rules of Trading);
  • a notarized copy of the exchange broker license for making trades in futures and options in exchange-based trading issued in the Trader’s name by the Federal Service for Financial Markets;
  • Supplement No.1 to the Agreement on the Procedure and Terms of Making Forward Trades and Pre-Shipment Period Trades in the NAMEX Standard Contracts for Grain, Legumes, and Industrial Crops Section. The Supplement to the Agreement must be submitted in 2 copies signed by the Section Member.