Procedures
I/ Mercantile Exchange of Vietnam’s Membership-registering Procedures
A business entity interested in becoming a MXV’s member must submit a complete Membership dossier according to MXV’s regulations, including:
- A membership application form;
- A valid copy of Business Registration;
- A commitment to comply with MXV’s regulations;
- An audited statement of owner's equity;
- A business plan for the next three and six months;
- Criminal records of Legal Representative and Chief Accountant;
- Valid copies of Identity Card of the Legal Representative and the Chief Accountant;
- A copy of Chief-Accountant Appointment Decision and his/her Labour Contract;
- A copy of Company’s Charter;
- A list of stakeholders/shareholders having at least 5% of capital stake.
- A Resolution/Decision of the General Meeting of Shareholders/the Board of Directors/the Council of Members/the Enterprise Owner on joining MXV as a member
- A Lease Contract of business entity's Headquarter or other documents proving the right to use that location;
- A list of qualified staffs authorized to operate commodity trading (attached to their Labour Contracts);
- Other MXV’s requirements (if there exists).
- In case of being written in foreign languages, documents and dossier related to any member of the Board of Directors/the Board of Managers, or to any officer shall be imperatively translated into Vietnamese and acknowledged by a specialized translating agency in accordance with Vietnamese legal regulations.
- Documents afterwards need to be gathered and stored into an original dossier along with an electronic version. The dossier must be either handed out at MXV’s headoffice or sent by post.
- In case the membership-registering dossier is not well-provided, the business entity must fill up the documents within thirty (30) days counted from the day MXV releases a request. Otherwise, the incomplete dossier shall be no longer eligible.
- The dossier is not accepted to be supplemented/adjusted over three times.
For more details, refer to Member statute of MXV
II/ Rights and Obligations of MXV's Members
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CONTENTS |
TRADING MEMBER |
BROKERAGE MEMBER |
|---|---|---|
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Conditions of authorization |
Company |
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At least 75 billion VND of charter capital |
At least 5 billion VND of charter capital |
|
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At least 5 qualified employees authorized to operate commodity trading |
At least 3 qualified employees authorized to operate commodity trading |
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Operational activities |
Self-business |
Brokerage |
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Entrusted commodity trading |
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Brokerage |
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Rights |
Benefiting from trading fees |
Earning brokerage commissions |
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Receiving customers’s margin deposit |
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Obligations |
Complying with laws and MXV’s regulations |
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| Payment: Membership registration fee, Annual membership maintenance due, Data connection fees by commodity exchange |
Payment: Membership registration fee, Annual membership maintenance due |
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Signing contracts with customers |
Signing contracts with Trading members |
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Point of contact between MXV and customers |
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Preserving documents related to transaction activities |
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Depositing customers’ margins to MXV |
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Function-attributing on the trading system |
Opening trading accounts for brokerage members and customers |
Only viewing customer accounts |
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Attributing functions to brokerage members |
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Making deposit/withdrawal requests |
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Setting trading fees for customers |
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Traded products |
Selected from MXV's licensed-commodity list |
Selected by the Trading member on which the Brokerage member depends |
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Training & Media |
Taking part in training courses, workshop, conferences, seminars held by MXV |
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If the member itself organizes a conference, MXV will assign an expert to be present and talk about the conference's topics |
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Membership status will be recognized and published on the mass media |
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