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The document ceased to be valid since  January 2, 2018 according to Item 9 of the Resolution of Board of National Bank of  December 26, 2017 No. 143

It is registered

Ministry of Justice of Ukraine

November 26, 2012

No. 1976/22288

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of November 5, 2012 No. 461

About approval of the Order of registration by authorized banks in the National Bank of Ukraine of rules of carrying out arbitrage operations on the terms of margin trading

(as amended on 10-10-2017)

According to Articles 7, of 44, 45 and 56 Laws of Ukraine "About the National Bank of Ukraine", articles 6 and 11 of the Decree of the Cabinet of Ministers of Ukraine of February 19, 1993 "About system of currency control and currency exchange control" the Board of the National Bank of Ukraine DECIDES: No. 15-93

1. Approve the Order of registration by authorized banks in the National Bank of Ukraine of rules of carrying out arbitrage operations on the terms of margin trading which is applied.

2. In the paragraph the second Item 15 of the Section I of the Regulations on procedure and terms of trade in foreign currency approved by the resolution of Board of the National Bank of Ukraine of August 10, 2005 No. 281, registered in the Ministry of Justice of Ukraine on August 29, 2005 for No. 950/11230 (with changes) to exclude the word of "all".

3. To general department of monetary policy (Scherbakova O. A.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks of Ukraine for use in work.

4. I reserve control over the implementation of this resolution.

5. The resolution becomes effective from the date of its official publication.

Chairman

S. G. Arbuzov

 

Approved by the Resolution of Board of the National Bank of Ukraine of November 5, 2012, No. 461

Order of registration authorized banks in the National Bank of Ukraine of rules of carrying out arbitrage operations on the terms of margin trading

1. This Procedure No. 15-93 "About system of currency control and currency exchange control" and the Regulations on procedure and terms of trade in foreign currency approved by the resolution of Board of the National Bank of Ukraine of August 10, 2005 No. 281, registered in the Ministry of Justice of Ukraine on August 29, 2005 for No. 950/11230 is developed according to Articles 7, 44 Laws of Ukraine "About the National Bank of Ukraine", article 6 of the Decree of the Cabinet of Ministers of Ukraine of February 19, 1993 (with changes) (further - the Provision).

2. The authorized bank (further - bank) shall register in the National Bank of Ukraine (further - National Bank) rules of carrying out arbitrage operations by this bank on the terms of margin trading (further - Rules) prior to implementation of the specified transactions.

Registration of Rules is performed by General department of monetary policy.

3. For registration of Pravil bank files such documents:

a) Regulations on implementation of arbitrage operations by bank on the terms of margin trading;

b) the draft agreement about implementation of arbitrage operations on the terms of margin trading which will consist bank with clients;

c) the description of accounting model of accounting by bank of own arbitrage operations and arbitrage operations at the request of clients;

d) the copy of the agreement (contracts) with foreign bank based on which, (which) in the international foreign exchange market arbitrage operations on the terms of margin trading will be performed.

The regulations on implementation of arbitrage operations by bank on the terms of margin trading shall contain, in particular:

procedure for carrying out payment under customer accounts which will be used for carrying out arbitrage operations;

procedure of payments of the amounts of limits and rates for carrying out arbitrage operations and provision to the client of the specified information;

procedure for obtaining by bank from the client of consent concerning the amounts and the foreign exchange rates at which arbitrage operations will be performed;

the procedure of accomplishment of arbitrage operations on the terms of margin trading, accounting treatment and control over the implementation of these transactions;

order of interaction between structural divisions of bank during accomplishment of arbitrage operations.

The draft agreement about implementation of arbitrage operations on the terms of margin trading which will consist bank with clients, shall contain, in particular:

the list of the rights and obligations of bank before the client;

the list of the rights and client's obligations before bank;

procedure for placement and use of the guarantee fee (including determination of coefficient or percent of the maximum use of covering for ensuring arbitrage operations);

the list of information, frequency and procedure for its obtaining by the client, and also procedure for use and the list of technical means or software and hardware complexes which will be provided in use to the client for carrying out arbitrage operations;

the message bank to the client about risks concerning carrying out arbitrage operations on the terms of margin trading;

procedure for determination and transfer into the customer account of profit or write-off from customer account of loss by results of carrying out arbitrage operations;

procedure of payments between the client and bank, including concerning payment of commission fee to bank;

frequency and procedure for provision to the client of information on the transactions executed by it, movement of means and remaining balance of means on its accounts.

Documents which are filed for registration of Rules shall be signed by the head of bank. The documents stated in foreign language (except Russian), shall move together with their translation into Ukrainian which makes sure the signature of the head of bank and impress of a seal of this bank.

4. The term of consideration by National Bank of the filed documents cannot exceed 30 calendar days from the date of their receipt.

5. The National Bank has the right to demand from bank of correction of shortcomings of the filed documents.

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