Continuous requirements for membership

MSE members must continuously meet the following conditions:

  • to have a license for operating with securities issued by the Securities Exchange Commission;
  • to comply with the MSE laws and acts;
  • to maintain an appropriate level of organizational and technical equipment, especially regarding the member connecting to the BEST system;
  • to be a member of the securities authorized depositary;
  • to have a minimum of two full-time brokers licensed by the MSE to have access to the BEST system at any time;
  • to have appropriate nominal capital and liquid funds, at any time, in accordance with the law, and to have an appropriate coefficient of exposure as stipulated by the Securities Exchange Commission;
  • to maintain their integrity;
  • in case the member is a brokerage house, the only operation permitted is trading with securities and other activities connected with securities trading;
  • to have established and to maintain internal systems and mechanisms for efficiency, regular and responsible operation, especially regarding the acts that regulate operations with clients, confidentiality, means for the prevention of information abuse that is not accessible to the public, supervision procedures of the operation etc.;
  • to meet all conditions for membership that the MSE may periodically request;
  • to pay on a regular basis the compensations determined by the MSE Tariff book.