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 Currently, the following categories of Membership on Mex Cambodia are open:-
Clearing Member (CM)
Non-Clearing Member (NCM)
Clearing Member [CM]
Its Clearing Member (ITCM) is a body corporate or Financial Institution which has been admitted as a Member on Mex Cambodia. The Clearing Member shall have rights to trade and clear trades on its own account as well as on account of its Clients, at Mex Cambodia through Cambodian Derivatives Clearing House PLC, the designated clearing house. The Clearing Member can also clear and settle trades on behalf of other Non Clearing Members / Broker Members at their request, subject to the terms and conditions specified by Mex Cambodia .
Eligibility criteria
Entities Corporate & Financial Institutions, duly registered with the Ministry of Commerce Government of Cambodia are eligible to apply for membership, as a Clearing Member with Mex Cambodia subject to the minimum paid up capital norms to be laid down by Mex Cambodia.
Non-Clearing Member (NCM)
The Non-Clearing Member (NCM) or Broker is a body corporate or financial institution or a commercial bank who is admitted by the Mex Cambodia as a Non Clearing Member/Broker, conferring upon them a right to trade initiated by themselves or on behalf of their clients as per Bye Laws and Rules of Mex Cambodia.
Fees & Commission Structure
The fees and commission structure for all categories members shall be published as and when there is a membership call issued by the Exchange. Please contact the Membership Department for further details.
Transfer of Membership
Pledge and lease of memberships are prohibited to protect the interest of general public. Transfer or Sale of Membership are permitted on following conditions:
- Request of existing Member to transfer its Membership on Mex Cambodia to another entity after expiry of two years.
- Reconstitution of the Controlling Shareholding Group. (Either Member or its holding / parent company.)
- All outstanding dues to Mex Cambodia and Clearing house are settled prior to submitting such applications.
Compliance Officer
Every member will need to have a Compliance Officer.
- A Compliance Officer of the Applicant Company shall be a senior management staff of the company and report to the Board of the Company.
- A Compliance Officer would ensure that all Laws, Rules, Regulations, guidelines, notifications, circulars etc. issued by Govt of Cambodia, Mex Cambodia and the Clearing House of the Exchange and other regulatory bodies are complied with internally. Any discrepancies / deviations shall be reported independently by the Compliance Officer to the Board of Directors of the Member and to the Exchange immediately.
- The Compliance Officer shall ensure that observations made/deficiencies pointed out by Mex Cambodia and / or the Clearing House during any inspection or investigations shall be addressed immediately. Remedial and control process initiated should be informed to Mex Cambodia and/or the Clearing House of the Exchange and state how such deviations shall not be repeated.
- The name and details of the Compliance Officer so appointed and any changes there of should be communicated to the Exchange.
Limitations
Further to the capital and net worth requirements, no entity shall be admitted as a Member if:
- The applicant company or any its Director(s) has ever pled guilty to or been found guilty of a criminal offence by a court of law including fraud or dishonesty relating to the violation of any Acts or any Laws of Cambodia, involving the dissemination of misleading information relating to trading, clearing & settlement of any securities or commodities on another Exchange.
- The applicant company or any its Director(s) who have been indicted by a court of law for violation of criminal nature which does not include any violations under Motor Vehicle Acts or Rules etc.
- The applicant company or any of its Directors or officers, Company Secretary or key managerial staff are named by any agency like Office of Foreign Assets Control (OFAC) or such other bodies to have any links with or involved in (i) terrorism, (ii) terrorists financing or (iii) money laundering activities (iv) dealing/possessing narcotic substances.
- The applicant company or any its Director(s) has been adjudged bankrupt or a receiver order in bankruptcy has been made against it or him or he has been proved to be insolvent even though he has obtained his final discharge;
- The applicant company or any its Director(s) has compounded with its/his creditors for less than full discharge of debts;
- The applicant has committed an act which may have rendered it liable to be wound up;
- The applicant company or any its Director(s) have been at any time expelled or declared a defaulter by any other Commodity Exchange/Clearing House/Clearing Corporation or it/he has been debarred from trading in commodities/securities by an Regulatory Authorities like Securities and Exchanges Commission of Cambodia, Central Bank of Cambodia and by any Ministry or other equivalent regulatory bodies in different jurisdiction;
- The applicant company or any its Director(s) incurs such disqualification under the provisions of the Act or Rules made there-under so as to disentitle such persons from seeking membership of a commodity exchange;
- The applicant company or any its Director(s) incurs such disqualification consequent to which Mex Cambodia determines it to be not in public interest to admit it as a Member on the Exchange.
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