Activity on the OTC Forex market can be carried out only if the software used by forex brokers or their clients is checked by the NFC for compliance with the requirements established by the National Bank of the Republic of Belarus
In order to verify the software required to carry out activities on the over-the-counter Forex market, the applicant submits an application for software verification.
With an application for software verification, the applicant shall submit:
* the software specification, including the software tools included in it and the accompanying documentation;
* certificates of conformity (certified copies) for software products subject to mandatory certification in the Republic of Belarus (if any);
* operational documentation for software tools required for software verification;
* documents that confirm the rights to use the software (if an application is submitted by a legal entity that is not a software developer).
The documents specified above must be submitted in Belarusian or Russian and include the name and designation of the software, data on its developer (manufacturer), manufacture date, version, characteristics of the software, methods and rules of its application.
Consideration of the application and making a decision on it are carried out by the Commission for Checking the software for carrying out activities on the over-the-counter Forex market, in accordance with the procedure established by the National Forex Center. The decision-making period should not exceed 5 working days from the date of application receipt.
In accordance with the documents submitted with the application, the commission decides to conclude a contract for the provision of software verification services.
In case of non-submission of documents or their non-compliance with the requirements, a decision is made to refuse to conclude a contract for the provision of software verification services.
The National Forex Center informs the applicant about the decision made no later than the next working day after the decision was made.
The contract for the provision of software verification services is concluded no later than 10 (ten) working days from the date of the relevant decision.
The term of the software verification should not exceed 30 (thirty) working days from the date of conclusion of the Contract.
In order to check the software, the applicant must provide machine media with software written on them. For the purpose of identification, machine media must have a label and a statement.
If it is not possible for the applicant to transfer a sample of software on machine media, the applicant agrees with the National Forex Center to comply with the necessary conditions that ensure the objectivity and reliability of the results of software verification.
Software verification includes:
* development, together with the applicant, of a program and methodology for testing software for compliance with the established requirements;
* testing together with the applicant of a sample of software for compliance with the established requirements with the registration of a test report.
If the software meets the established requirements, the National Forex Center issues a conclusion confirming the compliance of the software with the established requirements.
If the software check has revealed that the software does not meet the established requirements, the applicant is refused in writing to issue an opinion. The refusal does not prevent the applicant from re-applying for a software verification.