MAE-1.2.4
An application for approval as a
(a) Form 2 (Information on Shareholders and Subsidiaries) and Form 3 (Application for Approved Person Status);
(b) Any relevant annex and information specified in those forms;
(c) A non-refundable prescribed application fee of BD100;
(d) A business plan setting forth the internal controlling procedures of the enterprise;
(e) A business plan containing a budgeted accounting plan for the first three business years;
(f) Memorandum and Articles of Association of the corporation, copies of the by-laws, its constitution and powers of management and the manner in which its business is proposed to be transacted;
(g) Policies and procedures for all the exchange and market operations;
(h) The proposed organisation structure and the powers and duties of the officials of the exchange or market operator;
(i) The criteria for admission into the licensed exchange or the operator of various classes of members , the qualifications for membership, and the exclusion, suspension, expulsion and readmission of members therefrom or thereto;
(j) A description of the proposed trading and settlement system;
(k) Arrangements for risk management, compliance and internal controls;
(l) Where activities would be outsourced, copies of contracts and arrangements for oversight of their activities; and
(m) Business rules covering membership including capital requirements, instruments to be admitted to trading and listing, trading and execution rules, conflicts of interest requirements, professional standards, clearing and depository rules , data transmission, market conduct including avoidance of market abuse, compliance arrangements, and such other rules as may be required by the CBB.
Amended: April 2013