What Are the Procedures to Apply For Commodities Exchange Market License?

In order to give investors access to the market, support commodity price innovation, and give investors alternative investment tools to maintain price stability, it is necessary to operate a commodities exchange market that is investor-friendly, competitive, international in scope, and capable.

Those who intend to establish a limited liability organization in accordance with the prevailing legislation must get board approval before doing so in order to operate the commodities exchange market under the rules, guidelines, and other applicable laws.

SEBON published this notice for the information of any parties involved who would be interested in submitting an application under the following circumstances;

• Applications must be submitted within 45 days of the date this notice was published by interested organizations that are qualified to operate the commodity exchange market in accordance with the Commodity Exchange Act, 2074 and the rules, regulations, and other applicable laws under the Commodity Exchange Market Act, Regulations and Guidelines.
• The details must be included in the application when it is submitted to the board. The application may be submitted on the first day the office is open if the office is closed for any reason on the final day of filing.
• Even those who have previously requested the board's prior approval to start a barter market must submit a fresh application with the most recent information and supporting documentation.
• Applications that are not resubmitted by the applicant within the allotted period will be immediately canceled.
• Based on the applicant's application, the board will evaluate the candidate. Two candidates will be chosen on the basis of merit and given advance approval for the company to run the barter market in compliance with the applicable law.
• The Board shall have sole discretion to accept or reject any and all applications received in accordance with the notice.