How to Become a Member

This section is for legal entities planning to trade directly in the MICEX Group’s markets.

Only a legal entity that is a resident of the Russian Federation and has a proper license for a specific market may become a Member in any of the MICEX Group markets:

Stock Market: professional securities market participant license(s) for broker activities and/or dealer activities and/or securities management are required;

Government Securities Market: a depository license and one of three professional securities market participant licenses (broker activities and/or dealer activities and/or securities management) are required;

Securities and Indexes Derivatives Market: an exchange intermediary license for making exchange-based trades in commodity futures and options and one of three professional securities market participant licenses (broker activities and/or dealer activities and/or securities management) are required;

FX and STIR Derivatives Market: an exchange intermediary license for making exchange-based trades in commodity futures and options is required;

Commodity Derivatives Market: an exchange intermediary license for making exchange-based trades in commodity futures and options is required;

Сurrency market: a Bank of Russia license to conduct operations with foreign currency is required;

Money market: a banking license is required.

In addition, an applicant must comply with special requirements imposed on Members within the framework of the rules of the specific exchange market. Information on special requirements regarding Members’ financial standing can be found in the Membership Requirements section.

For more information on all of the procedures for entering the market and beginning the process of admission to trading, please visit the Getting a Member Status procedure section.