Commercial law. Legal status of commodity exchanges (lecture notes)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Commercial law. Legal status of commodity exchanges (lecture notes)

Lecture notes, cheat sheets

Table of contents (expand)

LECTURE No. 25. Legal status of commodity exchanges

The position and activities of commodity exchanges are regulated by the Law of the Russian Federation "On Commodity Exchanges and Exchange Trade". A commodity exchange is an organization with the rights of a legal entity that forms a wholesale market by organizing and regulating open public auctions held in a predetermined place and at a certain time according to the rules established by the exchange (clause 1, article 2 of the Law of the Russian Federation "On commodity exchanges and exchange trading ).The main goal of commodity exchanges is the formation of a commodity wholesale market.The main task of the activity of a commodity exchange is the organization and regulation of exchange trading.A commodity exchange is not entitled to carry out activities that are not related to the organization of exchange trading.

The Exchange is established by legal entities and (or) individuals and is subject to state registration in accordance with the established procedure. The exchange is established in the form of a business entity or a non-profit organization. To carry out exchange trading, a license is required. A license to organize exchange trading is issued by the Commission on Commodity Exchanges under the Federal Financial Markets Service (clause 3 of the Regulations on the Commission on Commodity Exchanges under the State Committee of the Russian Federation on Antimonopoly Policy and Support for New Economic Structures, approved by Decree of the Government of the Russian Federation of February 24, 1994 No. No. 152).

The peculiarity of the exchange is that it is regulated by a large number of exchange documents:

1) the charter of the exchange;

2) exchange trading rules, etc.

The charter of the exchange stipulates:

1) the management structure and control bodies of the exchange, their functions and powers, the decision-making procedure;

2) the size of the authorized capital;

3) the list and procedure for the formation of permanent funds;

4) the maximum number of members of the exchange;

5) the procedure for admission to the members of the exchange, suspension and termination of membership;

6) rights and obligations of members of the exchange and other participants in exchange trading;

7) the procedure for resolving disputes between participants in exchange trading on exchange transactions, the activities of the exchange, its branches and other separate divisions.

The rules of exchange trading define:

1) the procedure for conducting exchange trading;

2) types of exchange transactions;

3) the name of the commodity sections;

4) a list of the main structural divisions of the exchange;

5) the procedure for registration and accounting of exchange transactions;

6) the procedure for quoting prices for exchange goods;

7) measures to control pricing;

8) measures to ensure order and discipline at the auction;

9) a list of violations for which fines may be levied and their amount;

10) the amount of deductions.

The Commodity Exchange may have branches and other separate structural subdivisions established in accordance with the law. To protect the interests of their members and implement joint programs, including organizing joint trading, exchanges can create unions, associations and other associations that coordinate their activities (clause 1, article 4 of the Law of the Russian Federation "On commodity exchanges and exchange trading").

The Exchange cannot carry out trading, trading and intermediary and other activities that are not directly related to the organization of exchange trading. The restriction does not apply to a legal entity and an individual who is a member of the exchange (clause 2, article 3 of the Law of the Russian Federation "On commodity exchanges and exchange trading"). The exchange is not entitled to make deposits, acquire shares (shares), shares of enterprises, institutions and organizations, if these enterprises, institutions and organizations do not aim to organize exchange trading (clause 3 of article 3 of the Law of the Russian Federation "On Commodity Exchanges and Exchange Trading") . The exchange is not entitled to set the levels and limits of prices for exchange goods in exchange trading, the amount of remuneration charged by exchange intermediaries for mediation in exchange transactions (clause 2, article 29 of the Law of the Russian Federation "On Commodity Exchanges and Exchange Trade"). The exchange may receive various payments from members of the exchange and participants in exchange trading for the services it provides, fines levied for violation of the charter and rules of exchange trading.

The supreme governing body of the exchange is the general meeting of members of the exchange, which can decide all issues of the organization and activities of the exchange and adopts its main documents - the Charter and Rules of exchange trading.

The liquidation of the exchange is carried out by decision of the supreme management body of the exchange, as well as by a court or arbitration court in the manner and on the terms provided for by the legislative acts of the Russian Federation (Article 13 of the Law of the Russian Federation "On commodity exchanges and exchange trading").

<< Back: Exchange trading. Exchange types

>> Forward: Legal regulation of trading on the stock exchange

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Competition. Crib

▪ Banking law. Crib

▪ Enterprise economy. Lecture notes

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Electric destroyer of the future 07.12.2017

The second American Zumwalt-class destroyer, named USS Michael Monsoor (DDG 1001), has been launched.

The destroyer of the future left the Bath Iron Works shipyard in Bath, Maine on December 5 and is headed for the Atlantic Ocean for testing. The US Navy is due to take over the USS Michael Monsoor in 2018.

All Zumwalt-class ships run entirely on electricity. The first Zumwalt (DDG-1000) was launched on October 29, 2013.

Zumwalt-class destroyers, with a length of 183 meters and a displacement of 14,7 thousand tons, can reach speeds of up to 30 knots. Each ship is planned to be armed with 20 MK 57 VLS launchers for 80 missiles, two 155mm cannons and two Mk 110 57mm anti-aircraft guns. One Sikorsky SH-60 Sea Hawk helicopter and three MQ-8 Fire Scout drones can be based on Zumwalt.

Other interesting news:

▪ School class acoustics

▪ print robot

▪ Electric bus on hydrogen

▪ Room lock is opened by smartphone

▪ Innovative battery will last for decades

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Experiments in chemistry. Article selection

▪ article Praise and slander were accepted with indifference and do not dispute a fool. Popular expression

▪ article What are nitrobacteria? Detailed answer

▪ article European gooseberry. Legends, cultivation, methods of application

▪ article Iron with sound indication of heating. Encyclopedia of radio electronics and electrical engineering

▪ article The choice of electrical apparatus and conductors under the conditions of a short circuit. General requirements. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews