For operators of organized capital markets

Requirements for the initial capital of applicants and licensees – it must be no less than UAH 22 million.

An applicant/licensee must own and/or subscribe to an electronic trading system and software and hardware complex that ensure the proper functioning and protection of the electronic trading system (electronic trading systems) on a permanent basis.

A licensee engaged in the organization of trading in financial instruments must develop, register with the NSSMC, and keep up to date transparent, non-discretionary rules for the functioning of an organized capital market based on objective criteria that meet the requirements of the legislation governing the organization of trading in financial instruments.

An applicant/licensee for conducting activities related to the organization of trading in financial instruments must own or rent one or more non-residential premises with a total area of no less than 50 sq. m., including at the location of a separate branch that conducts activities related to the organization of trading in financial instruments, with a total area of no less than 50 sq. m., which is (are) completely separated from the premises of other legal entities, subject to compliance with the requirements for the minimum permissible area per workplace provided for by law.

A complete list of requirements for applicants/licensees is contained in the relevant regulatory documents:

Resolution of the National Securities and Stock Market Commission dated 21 October 2021 No. 982 “On Approval of the Procedure for Issuing, Suspending, and Terminating Licenses for Professional Activities in Capital Markets,” registered with the Ministry of Justice of Ukraine on 03 December 2021 under No. 1563/37185;

Resolution of the National Securities and Stock Market Commission dated 29 April 2022 No. 321 “On Approval of the Licensing Conditions for Professional Activities in the Organization of Trading in Financial Instruments in a Regulated Market and in the Organization of Trading in Financial Instruments on a Multilateral Trading Facility” registered with the Ministry of Justice of Ukraine on 14 June 2022 under No. 638/37974.

The following indicators are used to measure and evaluate the risks of trading activities in the stock market:

NORMAL ACCESSIBILITY OF OWN FUNDS. Calculated as a ratio of the amount of own funds to a value that is 50% of the fixed overhead costs of the institution for the previous fiscal year. Normative value of the standard is not less than 1.

COVERAGE OF OPERATING RISK COVERAGE. It is calculated as the ratio of the size of the institution’s own funds to its operating risk level at 15% of the average positive net income for the three previous financial years. Normative value of the coefficient – not less than 1.

ABSOLUTE LIQUIDITY COEFFICIENT (additionally for clearing and settlement exchanges). It is calculated as the ratio of the cost of highly liquid assets of the institution, which includes cash, their equivalents and current financial investments, to the amount of its current liabilities. Normative value of the coefficient – not less than 0,5.

COEXITY OF COURSES OF CLIENT PARTICIPANTS ‘LIABILITIES (in addition to clearing and settlement exchanges). Calculated as the ratio of the amount of liabilities in cash of the clearing participants on the basis of the clearing of contracts for the purchase and sale of financial instruments (other than securities) concluded on the exchange, the term of execution of which obligations came, to the value of pre-reserved participants cash clearing (provision of obligations) and the size of the guarantee (or other similar purpose) of the fund. Normative value of the coefficient – no more than 0,8.

The stock exchange submits to the public information database of the National Securities and Stock Market Commission on the securities market for the further placement of information on all transactions in issuance securities made by it by the end of the next business day after the date of the transaction. The following information is released:

On concluded (executed) exchange contracts (repos treaties) with equity securities on the stock exchange

• Code for the Unified State Register of Securities and Stock Market of the Stock Exchange
• Name of the stock exchange
• The date on which the information was compiled
• Date of the transaction (conclusion of the exchange contract)
• Part of the operation under the REPO agreement: “1” – the first part of the operation under the REPO agreement, “2” – the second part of the operation under the REPO agreement
• Name of the securities issuer under the transaction
• Code under the USREOU of the issuer of securities under the transaction
• Type of financial instrument that is the subject of civil rights under the transaction (in accordance with Guideline 7)
• International Identification Number of the security
• Number of securities by transaction
• The price of securities by transaction

On securities and other financial instruments that are on the trading list of the trade organizer

• Identification code of the EDRPOU of the organizer of trade
• Name of the organizer of the trade
• Date in which the data is stored
• Identification code of the EDRPOU of the issuer of a financial instrument or identification code from the commercial, judicial or bank registry of the country where the officially registered issuer of securities is a non-resident
• Name of issuer of a financial instrument
• Registration code for the Unified Register of Securities (in case of conclusion of a stock exchange contract with securities of collective investment institutions)
• Classification of a financial instrument (in accordance with Guide 7)
• Code of classification of a financial instrument (code CFI)
• International identification number of the security or code of another financial instrument (option information is filled in as “a, b, c”, where “a” is the registration number of the issue option, “b” – option class, “c” – option series)
• Country of registration of the issuer of the financial instrument (in accordance with Guide 45)
• Listing level: “1” – the first level of listing, “2” – the second level of listing, “0” – non-listings
• Stock exchange rate
• The number of applications submitted by participants in stock exchanges for the purchase of securities or other financial instruments
• The number of applications submitted by participants in stock exchanges for the sale of securities or other financial instruments
• Valuable paper is included in the list of those involved in the calculation of the stock exchange index: “1” – yes, “0” – no
• The last calculated value of the current price of the security during the trading day