How to Become a Member of MICEX Stock Exchange

This section is intended for organizations – professional stock market participants which intend to participate in trading at the MICEX Stock Exchange Closed Joint Stock Company (hereinafter referred to as “the MICEX Stock Exchange”) and describes details of the interaction procedure the MICEX Stock Exchange with organizations – professional stock market participants – Candidates.

1. A Candidate should familiarize with the Rules of Аdmission to trade at the MICEX Stock Exchange Closed Joint Stock Company (hereinafter referred to as “the Rules of Admission”), which establish the requirements imposed upon Candidates and MICEX Stock Exchange Participants; membership procedure for Candidates; requirements to get an admission to trade for MICEX Stock Exchange Participants and other issues related to participation in trading at the MICEX Stock Exchange. Moreover, it is necessary to pay attention to the fact that admitted to trade at the MICEX Stock Exchange can be only those organizations that registered as a legal entity of Russian Federation, possessing licenses of a professional stock market participant to act as a broker/ to act as a dealer (if you want to operate at your own expence only)/ to manage securities in trust (for fund/managers trust) and included in the list of the MICEX Stock Exchange Participants by resolution of the MICEX Stock Exchange’s Board of Directors.
2. To become a MICEX Stock Exchange Participant, the Candidate should present to the MICEX Stock Exchange an application in the established form (Supplement No. 1 to the Rules of Admission), set of documents according to Supplement No. 4 to the Rules of Admission and the Registration Card according to Supplement No. 2 to the Rules of Admission.
3. Upon the expiration of 3 (three) calendar days from the date the documents were submitted, the Candidate should specify at MICEX Stock Exchange the information concerning conformity of the presented set of documents to all MICEX Stock Exchange requirements. In case of presented not the complete set of documents or if there are remarks to presented set of documents, it is necessary for the Candidate to correct set of documents or to present explaining documents detailing the reasons these remarks cannot be resolved.
4. The Candidate can be included in the list of the MICEX Stock Exchange Participants by resolution of the MICEX Stock Exchange’s Board of Directors. The Candidate notified by delivery thereto of a written notice containing the MICEX Stock Exchange Participant’s Registration Number, the amount of the membership fee, the MICEX Stock Exchange’s banking requisites for payment of the same, and, if necessary, other information related to participation in trading at the MICEX Stock Exchange. If the Board of Directors adopts a resolution refusing the Candidate from inclusion on the list of the Traders, such resolution should be also brought to the Candidate’s attention by delivery thereto of a written notice.
5. According to Clause 11.2.1, Article 11.2 of the Rules of Аdmission to trade at the MICEX Stock Exchange Closed Joint Stock Company (hereinafter referred to as “the Rules of Admission”) and the Resolution of the Board of Directors of the MICEX Stock Exchange of 13 October 2004 (Minutes No. 8), the membership fee should be paid in the amount of 106,200 (One hundred and six thousand, two hundred) Russian rubles (VAT in the amount of 16,200 (Sixteen thousand, two hundred) rubles included) to the MICEX Stock Exchange’s current account No.30401810702200000747 at the MICEX Settlement House, Bank ID Code 044583505, corresponding account No.30105810100000000505, Taxpayer ID Number 77035007076, Tax Registration Reason Code 775001001.
6. Upon payment of the membership fee and fulfillment of all requirements regarding admission to participation in trading provided for in Section 7 of the Rules of Admission, the MICEX Stock Exchange Participant becomes entitled to perform operations in the MICEX Stock Exchange Trading System.