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- Responsible
for all trades executed on the Exchange.
- Either
an entity or individual Licenced by the Exchange
to carry out its functions and responsibilities
for trading on LFX.
- Trading
Agents are persons or entities that are well versed
and experienced in the business of trading of
securities/financial instruments.
- Proprietary
trading by Trading Agents is permissible.
- A
Licenced Trading Agent can also be a Licenced
listing sponsor with LFX and vice versa.
- The
roles and responsibilities of a Trading Agent
are:
- To
conduct trades on behalf of investors
- To
ensure their client's transactions is within
their prescribed trading limits
- To
ensure all trades done are settled accordingly,
and
- To
provide investment advice for new and current
clients.
Trading
is done through the @LFX System which lists all financial
instruments available for trading:
- Trading
Agents will post their bid and offer to buy/sell
on the Indication of Interest (IOI) Bulletin Board
on the @LFX.
- Direct
negotiations between interested Trading Agents
are permissible to determine the agreed bid/offer
prices.
- Each
counter party to the trade will then submit its
trade to LFX for confirmation and for the issuance
of contract notes.
Requirements
:
| Minimum
Net Asset |
US$1,000,000.00 |
| Professional
Indemnity Insurance |
US$5,000,000.00 |
Licensing
Fees :
| Application
Fee (non-refundable) |
US$1,000.00 |
| Initial
Fee |
US$10,000.00 |
| Annual
Fee |
US$5,000.00 |
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