NFC

Belarusian Currency and Stock Exchange, JSC

NFC CEO

Chairman of the Board of the Belarusian Currency and Stock Exchange

Forex Company

Legal entity included by the National Bank into the registry of the forex companies in accordance with the legislation of the Republic of Belarus

Forex Broker

Forex company, bank or non-bank financial institutions operating in the OTC forex market

Forex Broker’s Client

individual or legal entity having an agreement with a forex broker on carrying out operations with non-deliverable OTC financial instruments

Margin funds

the amount in foreign currency to transfer by a forex broker’s client when conducting transaction in the Forex market in order to open and (or) maintain his open position

ES “Personal Account”

Electronic Service "Forex Broker’s Personal Virtual Account" aimed at accumulating information about forex brokers, proving forex broker’s reports in accordance with these Rules, exchanging messages between NFC and forex brokers

NFC Administrator

NFC employee authorized to perform the actions specified by local legal acts of NFC

Forex Broker’s reporting

Electronic documents duly submitted by forex brokers into NFC

Aggregate open position of Forex broker’s clients

the amount of open positions of clients by particular underlying asset

Authorized person of Forex Broker

forex broker’s employee registered in the ES "Personal Account" and authorized to represent forex broker’s interests while working with NFC

System of Electronic Document Flow  (SED)

software and hardware means, including digital signature, databases, telecommunications and other equipment designed to produce, verify digital signatures, create, process, transmit, record and store electronic documents

Electronic Digital Signature (EDS)

character set produced by electronic digital signature that is an integral part of the electronic document

Electronic  Digital Signature  Means (EDSM)

certified in accordance with the technical normative requirements software and hardware to ensure the production and testing of electronic digital signature

Financial instrument

non-deliverable OTC financial instrument that is the subject of the transaction

Legal entities

individual entrepreneurs and legal entities as defined in the Civil Code of the Republic of Belarus as of 07.12.1998 number 218-З  

Open position

purchase or sale transaction that has not been closed by reverse sale or purchase transaction, respectively

Underlying asset

foreign currency, precious metals, securities, oil, and other assets, defined by the Council of Ministers of the Republic of Belarus together with the National Bank of the Republic of Belarus as assets for non-deliverable OTC transactions