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Becoming a Clearing Member

Procedure for Clearing Arrangement. Requirements to documents of the Clearing Members

The Clearing Organization shall carry out clearing for the entities having concluded the Contract for Clearing Services within the effective term of such Contract and upon termination of its effective term in the part of fulfillment of the obligations accrued before its termination.

The standard form of the Contract for Clearing Services between the Clearing Organization and the Clearing Member is specified in Appendix 01 to the Clearing Rules . 


To conclude the Contract for Clearing Services Russian legal entities shall submit the following documents to the Clearing Organization: 
a) Questionnaire of the Clearing Member (form provided in Appendix 02 to Clearing Rules);  
b) notarized copy of the certificate of state registration of the legal entity; 
c) notarized copy of the articles of association of the legal entity (including all the amendments and additions); 
d) notarized copy of the document confirming registration of the legal entity with the tax authority specifying its INN (Taxpayer Identification Number); 
e) extract from the unified state register of legal entities issued not earlier than 30 days before the moment of its submission to the Clearing Organization or the notarized copy of such extract; 
f) card containing notarized sample seal of the legal entity and signatures of persons authorized to sign the required documents on behalf of the legal entity, or its copy notarized or certified by one of the credit institutions, or the stated sample seal and signatures certified by the authorized employee of the Clearing Organization; 
g) copy of the document confirming election (appointment) of the sole executive body of the legal entity (order, decision of the founders, decision of the general shareholders’/members’ meeting, decision of another management body, etc.) to be notarized or certified by the authorized person of the legal entity, original (or copy notarized or certified by the authorized person of the legal entity) power of attorney of the person authorized to act on behalf of the legal entity; 
h) copy of the license of the Professional participant in the Securities Market for professional participants and the banking license for credit institutions to be notarized or certified by the authorized person of the legal entity; 
i) financial statements provided by clause 2, article 02.02 of the Clearing Rules

To conclude the Contract for Clearing Services foreign legal entities shall submit the following documents to the Clearing Organization
a) Questionnaire of the Clearing Member (form provided in Appendix 03 to Clearing Rules); 
b) copies of constituent documents (if certified by the consulate or apostilled); 
c) extract from the trade or bank register or another state register of legal entities of the country of origin of the foreign legal entity (if certified by the consulate or apostilled); 
d) document confirming registration of the foreign legal entity with the tax authority in its country of origin (if certified by the consulate or apostilled) and in case of tax registration in the Russian Federation the document confirming registration with the tax authority in the Russian Federation; 
e) document confirming authorities of the person for performance of legal acts on behalf of the non-resident foreign legal entity; original (or notarized copy) power of attorney of the person authorized to act on behalf of the legal entity (if certified by the consulate or apostilled); 
f) notarized copy of the document confirming election (appointment) of the person entitled to act on behalf of the legal entity without the power of attorney (order, decision of the founders, decision of the general shareholders’/members’ meeting, decision of another management body, etc.) (if certified by the consulate or apostilled); 
g) notarized sample signature of the person authorized to sign the required documents on behalf of the legal entity and, if available, seal of the legal entity (for instance, sample seal and signature card, authorized signature book, power of attorney containing the signature of the authorized person) (if certified by the consulate or apostilled), or the stated sample signature and seal certified by the authorized employee of the Clearing Organization; 
h) financial statements provided by clause 2, article 02.02 of the Clearing Rules. 

The documents provided by the entity to the Clearing Organization, according to sub-clauses a), f) – i), hereof shall be executed in hard copy in Russian, shall be signed by the authorized person of the entity and certified by the entity’s seal. No slips and corrections shall be permitted in such documents. 

The stated documents shall be sent by mail or by courier to the postal address of the Clearing Organization or the entity authorized to receive such documents on behalf of the Clearing Organization. 
The documents stated in sub-clauses b) – e), clause 3 hereof may be submitted as scanned copies. 

Access of the Clearing Members to Clearing 

To carry out settlements according to the clearing results the Clearing Member shall have at least one bank account with one of the Settlement Agents (hereinafter referred to as the “Bank Account”) and shall communicate the details of such Bank Account to the Clearing Organization in the form of a Notice provided by the Operational Regulations. 

If the Bank Account details of the Clearing Member are to be changed the Clearing Member shall submit a new Notice of the Bank Account details to the Clearing Organization not later than three (3) working days before start of settlements using the changed details by such Clearing Member.

Procedure for credit and debiting off the monetary funds within the Bank Account of the Settlement Agent shall be defined by the respective bank account contract concluded between the Clearing Member and the Settlement Agent. To contribute monetary funds in foreign currency to the collateral the Clearing Member shall have no less than one bank account in foreign currency with one of the Settlement Agents (hereinafter referred to as the “Foreign Currency Bank Account”) and shall communicate the details of such Foreign Currency Bank Account and the details of the transit currency account to the Clearing Organization in the form of a Notice provided by the Operations Regulations.

If the details of the Clearing Member’s Foreign Currency Bank Account and/or transit currency account are to be changed the Clearing Member shall submit a new Notice on the Foreign Currency Bank Account details to the Clearing Organization not later than three (3) working days before start of settlements using the changed details by such Clearing Member.

Procedure for credit and debiting off the monetary funds within the Foreign Currency Bank Account of the Settlement Agent shall be defined by the respective bank account contract concluded between the Clearing Member and the Settlement Agent. 


To obtain access to clearing apart from conclusion of the Contract for Clearing Services General and Individual Clearing Members shall be obliged to: 

a) provide the Clearing Organization with details of no less than one bank account opened with one of the Settlement Agents which is necessary to carry out settlements according to the results of the Contracts concluded on their behalf and at its expense; General Clearing Members shall also provide the Clearing Organization with details of at least one bank account opened with one of the Settlement Agents which is necessary for settlements according to the results of the Contracts concluded on its behalf and at the expense of their Clients; 
b) transfer contribution to the Collective Default Fund within the procedure and in the amount set by the Clearing Rules for the respective category; 
c) submit a power of attorney for the Operator under the form DV-P-SR provided by the Operational Regulations; 
d) submit a Consent to processing of the personal data of the Clearing Member’s representative under the form S-PD-SR, provided by the Operational Regulations. 
e) obtain access to document flow within the EDF system in compliance with the EDF Rules; 
f) obtain full technical access to the software and hardware complex of SDCO (JSC) in the derivatives market using the web interface and submit the Technical Readiness Report of the Member to SDCO (JSC) on its readiness to operation via the remote workplace in the derivatives market in compliance with the Contract for Technical Access to the Software and Hardware Complex of SDCO (JSC) in the Derivatives Market; 
g) submit valid financial statements provided by clause 2, article 02.02 of the Clearing Rules

The Clearing Members shall submit the financial statements specified herein in hard copy or in formats set by the Operational Regulations .

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