Licenses

Futures and option transactions may be done by exchange trade participants – legal entities, regardless of their legal form – but only by the right of licences of exchange intermediary and exchange broker to trade futures and options on the exchange market issued by the FSFM of Russia.

The procedure for issuing exchange intermediary and exchange broker licenses to trade futures and option on the exchange market is established in the Government Decree of the Russian Federation of 9 October 1995 No. 981 “On approval of the regulation on licensing the activities of exchange intermediaries and exchange brokers to trade commodity futures and option on the exchange market (in versions of the Government Decrees of the Russian Federation of 3 October 2002 No. 731, 21 March 2005 No. 148, 26 January 2007 No. 50, and 26 November 2007 No. 807)”.

According to the Government Decree of the Russian Federation clients (persons on begalf of and/or at whose expense an exchange intermediary makes commodity futures and option deals) are not required to obtain these licenses to participate in exchange trading through an exchange intermediary.

A fee is charged for the consideration of license applications and the licenses issue.

The amounts of the fee are as follows (Clause 71, Article 333.33 of the Russian Tax Code):

• consideration of a license application – RUB 300;
• issue of an exchange intermediary license (the license form) – RUB 1,000;
• issue of an exchange broker license (the license form) – RUB 1,000.

For more information:
Detailed information of payment of the state license fee presented on the official FSFM website.