Legality of actions: commodity exchanges can operate only under the license of the NSSMC

The NSSMC has decided to carry out professional activities on the organization of trade in products on commodity exchanges on the declaration of economic activity during martial law.

It is important that business entities that have submitted to the Ministry of Economy of Ukraine declarations on conducting business activities without being licensed by the NSSMC, may carry out such activities only after obtaining a license from the NSSMC for clearing activities to determine liabilities.

Throughout  the period of activity sych entities should meet the licensing conditions established by the Law of Ukraine on Commodity Exchanges and regulations of the NSSMC, namely:

• organizational and operational requirements,
• requirements for the amount of authorized and own capital, the procedure for its determination and liquidity,
• qualification requirements for specialists of commodity exchanges,
• hardware and software requirements,
• requirements for the sources of origin of funds, due to which the authorized capital of the commodity exchange is formed, etc.

The Resolution shall take effect on the day of its publication on the NSSMC’s official website. The text can be found at the link.