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Derivatives Market
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INTERMEDIARIES ADMISSION - DERIVATIVES MARKET

Who may become Participant on the derivatives regulated market administered by SIBEX SA?

All the institutions registered in F.S.A. public Registry that fulfill the admittance conditions on this market according to SIBEX SA regulations, as follows:

  • Financial investment firms authorized by F.S.A.
  • Credit institutions authorized by the National Bank of Romania, in accordance with applicable banking laws
  • Traders or other entities authorized in the Member States or non-member to provide investment services financial as those provided in Article 5 of Law 297/2004, registered in F.S.A. public Registry that fulfill the admittance conditions on this market according to the provisions of SIBEX SA Regulation no. 3

ADMISSION CONDITIONS

The admission conditions for a participant on the regulated derivatives market administered by SIBEX SA are stipulated in SIBEX SA Regulation no.3, and refer to the following:

  • To be registered in FSA Public Registry
  • To sign with SIBEX SA an agreement regarding participation to the regulated financial derivatives market administered by SIBEX SA, agreement that includes provisions regarding access to SIBEX SA electronic trading system.
  • To have the adequate technical equipment and communication systems, which fulfill the minimum conditions established by SIBEX SA Board of Directors, in order to connect to the electronic trading platform.
  • To hold specialized IT systems and programs, which ensure appropriate recording and management of trades performed on the regulated financial derivatives market, administered by SIBEX SA.
  • To have at least two employees, who are agents of services and financial investment activities, authorized by F.S.A. and registered in FSA Public Registry, or at least two natural persons who are in a contractual relationship with the participant in question (of work or other nature, if applicable) and hold an equivalent certification issued by the competent authority of the Member/ Non-Member State who gives them the right to provide services and investment activities on behalf of an intermediary and which at the same time graduated professional certification courses organized by SIBEX SA for brokers active on the regulated derivatives market . Traders will need to have committed at least one person who fulfills the conditions above.
  • To have no financial liability towards SIBEX SA.
  • To be a clearing member of the CCP agreed by SIBEX SA or to sign a contract of clearing and settlement services provision with a general clearing member of the CCP agreed by SIBEX SA

The tarrifs payable by the Participant to SIBEX SA, closely related to itís quality of Participant to the derivatives regulated market, shall be proposed and approved by the Board of Directors and approved by the general meeting of shareholders , and will be posted on the company website www. sibex.ro.

The persons referred to in subparagraph e) must follow , if deemed necessary by SIBEX SA professional recertification courses and obtain , if applicable, related professional certificates.

The minimum requirements for the Participants connectivity to the electronic trading system established by the Board of Directors of SIBEX SA in item c ) will be published on the website www.sibex.ro .

The entity intending to trade as a participant on the regulated derivatives market administered by SIBEX SA will transmit to SIBEX S.A. in attention of the General Manager, an application for admission according to the model in Appendix 1 from Regulation no. 3 of SIBEX SA , as well as an application for admission to trading according to the model in Appendix 2 of Regulation No . 3 of SIBEX SA for each financial investment services agent who will perform transactions on the regulated derivatives market administered by SIBEX SA

The applications mentioned above will be accompanied by the following documents :

  • copy of the authorization decision issued by C.N.V.M. / ASF, National Bank of Romania or by the competent authority of the Member State and the certificate of registration in the FSA Public Registry, as appropriate;
  • copies of certifications of agents of services and financial investment activities issued by RNSC / FSA or, where appropriate , evidence of relevant professional certifications / equivalent licenses issued by the competent authority of the Member / Non-Member State and which gives them their right to provide services and investment activities on behalf of an intermediary for the persons who perform transactions on the derivatives regulated market administered by SIBEX SA ;
  • evidence of holding adequate technical equipment and communication systems that meet the minimum requirements established by the Board of Directors of SIBEX SA to connect to the electronic trading system accompanied , if appropriate, by a statement from the legal representative of the participant regarding the ownership of programs and systems which ensure appropriate recording and management of trades performed on the regulated financial derivatives market, administered by SIBEX SA.
  • copy of the clearing and settlement agreement concluded with the CCP agreed by SIBEX SA or clearing and settlement agreement concluded with a general clearing member of the CCP agreed by SIBEX SA ;
  • the list of natural or legal persons who act as delegated agents under the entire and unconditional responsibility of the respective Participant
  • other documents that SIBEX SA considers necessary for the procedure for admission as a Participant on the regulated derivatives market administered by SIBEX SA .