How to Become a Trading Member
ITS accepts for membership brokers and management companies licensed in different foreign states, providind comprehensive support for member accreditation and following setup. Average accreditation period is about 1.5 months.
Basic registration steps:
- Due diligence review
- Setup of electronic document flow system, FATCA information disclosure
- Registration as a Trading & Clearing Member
- Technical connection and setup of trading software
- Clients' registration (online/offline)
Technical connection to the ITS Trading System and access to the E-Document Flow System are provided by ITS Tech.
Required steps:
- sign a contract with ITS Tech
- connect to the E-Document Flow System and the ITS Tech File Gateway
- connect external equipment to the ITS Tech communication network to access the software
ITS also provides the opportunity to connect to the test trading system. Request an application form: support@itsx.kz
Recommendations for equipment and communication channels:
- Dedicated channels to ITS Tech data center with transmission capacity at least 100 Mbps.
- Cisco ISR4331 routers and above or Cisco Catalyst 9200 switches and above.
Before starting, we recommend to consult with the technical support of ITS Tech, which will help to find the best connection option.
The following documents are required:
- Application form for registration as a Member (doc)
- Application (file) of the Client - legal entity (doc) and AML & KYC application (doc)
- Form of self-certification of a legal entity (for the purposes of FATCA and CRS) / form of self-certification of an individual (for the purposes of FATCA and CRS) specified in Annexes 1 and 2 Provision on compliance with FATCA and CRS requirements;
- Two copies of trading service agreement (doc) and two copies of clearing service agreement (doc)
- Documents for the purposes of identification of the Beneficiaries and Intermediaries in Securities of Foreign Issuers (doc)
- Statement of addresses to be used in the Electronic Document Management System (doc)
- Documents specified in Annexes 5 and 6 to the Membership Rules
- Documents provided by the person to whom the Trading Account is opened for further transfer to the Settlement Depositary for opening of the Trading Account in accordance with the requirements of the internal regulations of the Settlement Depositary regulating the procedure for opening the Trading Account
- Original or certified copy of the power of attorney confirming the right to sign of the person signing documents on behalf of the applicant
- Original of the signed Consent to the personal data processing (doc) of the person signing the documents on behalf of the applicant
All documents are subjects of ITS compliance to the requirements of the ITS Membership Rules. ITS can require other supplemental documents (information). The applicant must submit the documents (information) specified in ITS Membership Rules in a prescribed form and within defined timeframes.
The ITS considers the documents submitted by the applicant within 10 (ten) working days from the date of receipt of the complete set of documents. If the applicant complies with the Membership Rules and also receives a positive peer review, the ITS will make a decision on the applicant's registration as a Member.
LIST OF REQUIRED DOCUMENTS
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|
Name of the document |
Form of provision | |
|
Physical medium document flow |
Electronic document flow | ||
|
1. |
Registered founding documents of the Applicant with current changes and supplements. |
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
2. |
Document confirming state registration of the Applicant: extract from the trade register of the country of registration of the Applicant or other document confirming legal status of the Applicant in accordance with legislation of the country of their registration. |
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
3. |
Certificate of registration of the Applicant with a tax authority or other document issued by a tax authority in accordance with legislation of the country of registration of the Applicant. |
Notarised copy or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
4. |
Document confirming the fact of election (appointment) of sole executive body of the Applicant. |
Original or notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
5. |
Order on assumption of office by sole executive body of the Applicant with indication of the date of assumption of office. |
Original or notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
6. |
ID document of the person assigned as sole executive body of the Applicant. |
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
7. |
Employment agreement (contract) of sole executive body of the Applicant. The said document is provided to the Company only if founding documents of the Applicant or the document on election (appointment) of sole executive body do not indicate the term, for which sole executive body is elected. |
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
8. |
Letter of attorney confirming authorities of persons, regarding which the information is provided in sections Information on Representatives (individuals) and Information on Representatives (legal entities, unincorporated foreign structures) of the Applicant's Application and/or an Application of the client's representative being a legal entity/ Application of the client's representative being an individual is submitted, except for sole executive body of the Applicant. |
Original or notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
9. |
ID document of the individual indicated in clause 8 of this table.
|
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
10. |
Documents of the managing organisation. If authorities of the Applicant's sole executive body and signing powers are transferred to a managing organisation, documents confirming legal capacity of the said managing organisation are submitted to ITS, as indicated in clauses 1-8 of this table. |
Original or notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
11. |
Ownership structure of the Applicant or extract(s) from the shareholder register of the Applicant and their shareholders (if necessary). Ownership structure of the Applicant is disclosed up to individuals, who in the end directly or indirectly (through third persons) own (have majority share of over 25 per cent in the Applicant's capital) or may control actions of the Applicant. Country of registration/ incorporation (citizenship) of foreign legal entities and individuals from the Ownership structure is indicated. |
The Original. |
as an Electronic Document signed with a Digital Signature |
|
12. |
Local Regulator's licence and/or AIFC licence
|
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature |
|
13. |
AIFC document recognising the Local Regulator's licence |
Notarised copy or a copy certified by an authorised employee of the Applicant (if the original document is provided to the Company), or a copy certified by an authorised employee of the Company (if the original is available). |
as an Electronic Document signed with a Digital Signature
|
|
14. |
Information on business reputation of the Applicant |
Original or notarised copy. |
as an Electronic Document signed with a Digital Signature |
|
15. |
Details about the Applicant's financial status |
Financial statements prepared in English in accordance with the requirements defined by International Financial Reporting Standards. |
as an Electronic Document signed with a Digital Signature |
|
16. |
Wolfsberg Questionnaire (filled in by Applicants who are credit institutions) |
The Original. |
as an Electronic Document signed with a Digital Signature |
|
17. |
AML & KYC Questionnaire |
The Original. |
as an Electronic Document signed with a Digital Signature |
|
18. |
Confirmation of Beneficiary Ownership of Income (in the form approved by Annex 4 of the Membership Rules) (for tax non-residents of the Republic of Kazakhstan) |
The Original. |
as an Electronic Document signed with a Digital Signature |
|
19. |
Certificate of tax residency of the Applicant/Member for the year in which the conclusion of the trading service agreement and (or) clearing service agreement takes place, in the form approved in the jurisdiction of tax residency of the Applicant/Member, if applicable (in the presence / absence of a valid double taxation treaty concluded by the country of tax residency of the Applicant/Member and the Republic of Kazakhstan) and in accordance with the requirements for such a certificate approved in the Republic of Kazakhstan) (for tax non-residents of the Republic of Kazakhstan) |
The Original, legalized in the manner prescribed by the legislation of the Republic of Kazakhstan (where applicable) and a notarized translation into Russian (where applicable) or a notarized copy of the original document.
The signature and seal of the foreign notary must be legalized in the manner prescribed by the legislation of the Republic of Kazakhstan;
or an electronic version posted on the Internet resource of the state body performing legalization, or other state organization or public chamber of notaries collecting (storing) electronic apostilles of a foreign state;
or a paper copy of such certificate posted on the Internet resource of the competent authority of a foreign state. |
as an Electronic Document signed with aDigital Signature |
|
20. |
CONSENT to the personal data processing |
The original |
as an Electronic Document signed with Digital Signature |
Admission to the trading and admission to clearing services are granted to the Member not later than three (3) business days after fulfilment of all requirements set forth in Annexes 2 and 3 to Membership Rules and provided that there are no grounds for refusal to grant admission to the trading and admission to clearing services in accordance with clause 3.23 of the Membership Rules.
In order to change the status of access to trading and access to clearing services the following form must be provided:
- Application for suspension/renewal/termination of admission (doc)
Clients, on the account of whom Contracts / Internal OTC Contracts may be concluded and clearing under Contracts / Internal OTC Contracts may be carried out, shall be first registered in accordance with Annex 2 to the Regulations on Clearing Activities.
In order to be admitted to clearing services, it is necessary to register a Trading and Clearing Account (TCA).
Types of Trading and Clearing Accounts:
- TCА for accounting of the Сlearing member’s own operations and assets
- TCА for accounting of the Сlearing member’s client operations and assets
- TCА for accounting of operations and assets of the Clearing member, who is a trustee
- TCA for accounting of the Default Fund (this TCS is registered without the filing of an application by the Clearing member)
- TCА for accounting of operations and assets of the client, who is a trustee
Registration of TCA is carried out by submitting an Application for registration of TCA “TCA_REGISTER” in accordance with Annex 3 to the Regulations on Clearing Activities.
For more information: mem@itsx.kz