REGISTRATION REQUIREMENTS OF COMMODITY EXCHANGE OPERATOR

1. Certified copy of Memorandum and Articles of Association from CAC which should among other things include the power to act as a commodity broker with relevant qualification or experience (to be sighted by an authorized officer of the Commission).

2. Credentials of Sponsored Individuals which should include their secondary school certificates and NYSC discharge certificates.

3. Sworn undertaking to keep proper records and render returns as may be specified by the Commission from time to time (notarized).

4. Sworn undertaking to abide by SEC Rules and Regulations and ISA No.29 of 2007

5. A copy of Abuja Securities and Commodity Exchange (ASCE) license

6. Fidelity Bond covering 20% of paid-up capital and it should conform to Rule 45 of the SEC Rules and Regulation

7. Copy of Certificate of Incorporation (original should be sighted by an authorized officer of the Commission).

8. Latest audited accounts / statement of affairs

9. Evidence of minimum paid-up capital

10. Copies of CAC certified Form CO2 and CO7

11. Application fee of N5,000.00 for the function

12. Registration fee of N100,000.00 for the company and N1,000.00 for each of the Sponsored Individuals.

13. To fill Form SEC 3C for the company in duplicate

14. To fill Form SEC 2 in duplicate for a minimum number of two Sponsored Individuals (new) Note: 1 Sponsored Individual for existing registered company with SEC.

15. Police clearance reports (Sponsored Individuals should report at our Lagos office with two passport photographs to start the procedure).

16. Full postal address of immediate previous employers of the Sponsored Individuals (as stated in the Form SEC 2)

17. Full postal address of 2 referees of the Sponsored Individuals (as stated in the Form SEC 2)

18. Full postal address of banker of sponsored individuals with personal company account number.

19. Operational Manual and Organogram of the company

20. Curriculum Vitae of the Sponsored Individuals which should contain details of activities with dates arranged from secondary school to date.

21. Profile of the company

22. Evidence of Certificate of Commodity Exchange induction course by ASCE on the sponsored individuals Furthermore, your company will be inspected in the course of processing your application. Please note that a fair knowledge of the Investments and Securities Act No. 29 of 2007 and the Rules and Regulations of the Commission and the capital market is very essential.