The Exchange may conclude a contract with an applicant for exchange membership if the applicant meets the following conditions and submits the documents listed hereunder:

  • an application to join one or more exchange sections, specifically stating the name of the stock exchange product/ product group the applicant wishes to trade in,
  • an official document no more than 15 days old, certifying that the applicant is a  registered company legally operating at the address given as its registered office,
  • a permit from a competent supervisory or other authority certifying that the applicant is in possession of a supervisory document or other document of authorization stating that the applicant is entitled to trade in the given stock exchange product,
  • when necessary, a certification from a supervisory or other competent authority that the Applicant is entitled to provide services extending beyond national borders,
  • certification that the applicant can ensure the clearing of the stock exchange products in the given area
    • For an applicant for clearing membership, a certification from the clearing organization of clearing membership and of having opened the necessary accounts and having fulfilled all additional conditions for clearing transactions,
    • An applicant for sub-clearing membership will need:
      • A general clearing member’s statement that it has concluded a clearing contract with the sub-clearing member and that the general clearing member will serve as a guarantor for the transactions of the sub-clearing member, and
      • A statement from the organization handing the clearing confirming that the general clearing member is in fact a clearing member,
  • an applicant for sub-clearing membership will submit a declaration from a general clearing member for whom it performs the clearing services, in accordance with the Regulations on Exchange Membership,
  • an authorization of at least one trader dealing with the given stock exchange product or products  in keeping with the regulations regarding trading in the given section,
  • certification of the existence of the technical conditions needed to trade in the given stock exchange product or products,
  • certification of having paid the annual minimum fee set for the given section,
  • an official declaration or a statement certifying that the contents of the attached declarations and documents are true and that the Applicant has not left out any information that would be necessary to pass a substantive ruling on the membership application.
  • An exchange member can settle with KELER Ltd. as a clearing member or as a sub-clearing member.
  • Clearing membership is granted by a clearing agreement concluded with KELER Ltd.
  • A sub-clearing member needs a clearing agreement with a general clearing member and a statement of unconditional liability whereby the general clearing member guarantees the performance of the transactions of the sub-clearing member that has a clearing agreement in place and ensures that the transactions of the sub-clearing member are cleared in conformity with the rules of the Exchange and KELER rules.
  • A sub-clearing member may have only one effective clearing agreement in place with a single general clearing member, whilst the latter may have clearing agreements with several sub-clearing members at any point in time.