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The document ceased to be valid since  January 1, 2016 according to Item 2 of the Decision of the National commission on securities and the stock market of Ukraine of  October 1, 2015 No. 1597

It is registered

Ministry of Justice of Ukraine

February 5, 2013

No. 216/22748

DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of January 15, 2013 No. 37

About approval of the Provision of rather prudential standard rates of professional activity in the stock market - depository activity and clearing activities and requirements to risk management system

(as amended on 03-06-2014)

According to part one Item 37-5 of Article 7, Items 2, 13 parts one of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine" and in connection with adoption of law of Ukraine of July 4, 2012 No. 5042-VI "About modification of some legal acts of Ukraine concerning enhancement of the legislation on securities" the National commission on securities and the stock market RESHILA:

1. Approve the Provision of rather prudential standard rates of professional activity in the stock market - depository activity and clearing activities and requirements to risk management system (further - the Provision) which is applied.

2. To provide to department of regulation of depository and settlement and clearing activity (I. Kurochkin) provision of this decision on state registration in the Ministry of Justice of Ukraine.

3. To management of information technologies, external and internal communications (A.Zaik) to provide publication of this decision according to the legislation.

4. This decision becomes effective from the date of its official publication, except Chapter 3 of the Section ІІІ and subitem 1.2 of Item 1 of the Section V of the Provision, becoming effective since 01.01.2014.

5. To professional participants of the stock market to bring the activities into accord with requirements of the Section IV of Provisions till 01.01.2014.

6. Control over the implementation of this decision to assign to the member of the commission K. Krivenko.

Vr.i.o. commission chairman

A. Amelin

Approved by the Decision of the National commission on securities and the stock market of Ukraine of January 15, 2013 No. 37

Provision of rather prudential standard rates of professional activity in the stock market - depository activity and clearing activities and requirements to risk management system

І. General provisions

1. This Provision establishes procedure the National commission on securities and the stock market (further - the Commission) prudentsionny supervision of depository and clearing activity, determines the main risks of the specified types of activity, indicators which are applied to their measurement, establishes their normative values, and also determines requirements to the professional participants of the stock market performing depository and clearing activity concerning prevention and minimization of influence of risks on their activities.

2. Action of this Provision extends to Central Securities Depository (further - the Central depositary), to the professional participants of the stock market performing the following types of activity:

depository activity of depository institution;

clearing activities.

Action of this Provision does not extend to the banks performing professional activity in the stock market except settlement center on servicing of agreements in the financial markets (further - Settlement center) regarding observance of requirements of the Section III concerning coverage ratio of obligations of participants of clearing, and also Sections V and VI of this provision.

3. The terms used in this Provision are used in such values:

risk profile - set of types of risks peculiar to certain organization;

risk management system - set of the rules and procedures directed to identification, assessment and risk management of activities of organization taking into account its risk profile determined by organization;

organization - the Central depositary, the professional participant of the stock market performing depository activity by its separate types clearing activities or combines it with other types of activity according to the legislation on securities and the stock market.

The concept "prudentsionny supervision", "prudentsionny standard rate" and other terms of this Provision are used in the values determined by the Law of Ukraine "About securities and the stock market", the Law of Ukraine "About state regulation of the security market in Ukraine", the Law of Ukraine "About depositary system of Ukraine" and the Law of Ukraine "About financial services and state regulation of the markets of financial services".

ІІ. Risks of depository and clearing activity

1. Their following types belong to risks which can arise when implementing depository activity by the Central depositary, depository institution and in case of production of clearing activities:

risk of approach of insolvency and bankruptcy of the company (financial risk);

technical risk;

operational risk;

legal risk;

risk of loss of goodwill;

risk of approach of force majeur circumstances.

1.1. The risk of approach of insolvency and bankruptcy of the company (financial risk) can arise in case of deterioration in financial condition of the company, quality of its assets, capital structures in case of losses from its activities. The method of ratio analysis is applied to measurement and assessment of financial risk.

1.2. The technical risk is the risk of emergence of losses connected with imperfect work of processes and systems of organization or their insufficient protection which includes risk of failure in work of program and technical supply, the equipment, information systems, means of communication and communications, the risk connected with integrity of data and data carriers, risk of unauthorized information access of strangers and other risks.

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