How to Become a Market Participant

To be admitted to Market Participation, an applicant must meet requirements for Market Participants and put on:

• The Application for Market Participation Admission in the form presented in Appendix 3 to the Access Rules of MICEX SE Derivatives Market (hereinafter referred to as “the Access Rules”).

The following documents should be enclosed to the Application for Market Participation Admission on MICEX SE Derivatives Market:

1. The Participant trading agreement. The Agreement must be executed in two original copies in the standard form presented in Appendix 5 to the Access Rules, signed by a person with right of first signature on entity’s documents and sealed;

2. Notary certified copies of constituent documents;

3. Notary certified copies of all licenses issued by the Central Bank of the Russian Federation (for credit organizations), a copy of the exchange intermediary license to trade futures and options on the exchange market issued by the federal executive authority, and licenses of professional participant of the securities market to carry out brokerage activity and/or act as a dealer, and/or as an asset manager;

4. Notary certified copy of the certificate of incorporation in the Unified state register of legal entities;

5. Notary certified card with samples signatures of authorized persons and imprint of the seal of an applicant for Participation;

6. Registration card in paper and in electronic form. Paper form need to be drawn up according to the sample provided in Appendix 4 to the Access Rules. Electronic form has to correspond with the standard data format of JSC MICEX SE;

7. Organization audit report of the last year, with the balance sheet and the profit and loss account attached;

8. References, drawn up in accordance with Article 03.04 and in the form presented in Appendix 2 to the Access Rules, from:

• either two Market Participants admitted to trading on MICEX SE Derivatives Market;
• or a self-regulated organization of professional securities market participants;
• or a nonprofit organization joined professional securities market participants including credit organizations and one Market Participant admitted to trading on MICEX SE Derivatives Market;

9. For credit organizations – the following financial reports, in paper and in electronic form, as at the last quarterly accounting date:

• balance list of the credit organization’s accounts (Form 0409101);
• information about binding standards (Form 0409135);
• calculation of capital (Form 0409134);

10. For non-credit organizations – the following financial reports in paper and in electronic form, as at last quarterly accounting date:

• balance sheet (Form 1);
• statement of the capital calculation of an institutional investor in the form established by the federal executive authority.

If the documents are signed by an authorized person acting on power of attorney, a notary certified copy of the power of attorney in the
name of that person shall be provided.

Market participants of MICEX SE are allowed to provide a reduced package of documents for admission to Market Participation on MICEX SE Derivatives Market. To specify the list of documents to be provided please contact (495) 234–4808.
Applications for Participation in Derivatives Market of MICEX SE are considered at the meeting of MICEX SE Board of Directors.
Upon making a decision to include an organization into the list of Market Participants by the Board of Directors, MICEX SE signs the Participant trading agreement provided by the applicant.

The date of including in the list of Market Participants is effective date of Participant trading agreement.
If an organization does not meet the requirements for Market Participants, the Board of Directors will refuse an applicant to include in the list of Market Participants.

The organization has the right to re-submit the documents for including in the list of Market Participants but no earlier than 6 calendar months from the date of refusal decision made by MICEX SE Board of Directors.