How to Become a Section Member’s Client

To trade in the Standard Contracts for Grain, Legumes, and Industrial Crops Section of the National Mercantile Exchange (hereinafter referred to as “the Section”) without becoming a Section Member, you must register as a Section Member’s client. To register, you must perform the following procedures:

• review the terms of service offered by Section Members;
• select the Section Member whose terms of service are satisfactory;
• make an agreement with the Section Member regarding the procedure for receiving market information and delivering your instructions on making trades in the Section, as well as other terms of service;
• execute the contract for trading services with the Section Member.

Both legal entities and individuals may be a Section Member’s client.

When a client is registered, a separate position account will be opened for the Section Member servicing the client in which positions opened on the client’s instruction are accounted for separately.

When performing clients’ instructions, trades are made in the name of the respective Section Member.

A client’s trading obligations will be included in the Section Member’s general obligations on which the latter will make cash settlements.

To register a client for trading, the Section Member must electronically submit an order for opening a position account. The form and procedure for generating the order are determined by the Procedure for Registering MICEX Clients for MICEX’s Performance of Clearing on Trades Made in the Section. The order may be generated using a special program for generating and verifying documents containing information on MICEX Derivatives Market Section Members’ clients.

For questions regarding client registration and opening a separate position account please call (495) 234–2490.