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PFTS Trading Committee
The PFTS Trading Committee operates with the aim of setting and implementing trading rules and other documents governing trading in securities by the companies-members of PFTS.
To achieve this aim, the Committee:
- drafts, amends, and submits for approval by the PFTS Board «The PFTS Trading Rules», as well as other documents regulating securities trading activities of the companies-members of the exchange, PFTS listing and delisting rules;
- outlines and implements qualification requirements for the authorized persons of the member companies; admittance of securities for trading at PFTS; provides explanations to «The PFTS Trading Rules» and other documents of PFTS regulating trading through the PFTS Stock Exchange; exercises control over compliance with PFTS rules and regulations; takes measures aimed at protecting the interests of investors and other customers of the member companies of PFTS; considers, jointly with other committees, the matters related to depository servicing, agreement settlements, relations with registrars, clearing organizations and depositories;
- exercises other powers as prescribed by PFTS rules and regulations or by decisions of the PFTS Council.
The Committee is a standing body of PFTS . It reports to the PFTS Council and operates on the basis of the Regulation on the PFTS Trading Committee.
The Committee consists of the Committee Members, who are individuals representing those member companies of PFTS, which duly perform their membership duties and which are listed as the top 50 companies in the Annual PFTS Trading Rating, and of a representative of the Stock Exchange Operations Department of PFTS Stock Exchange, who is positioned on the Committee with full rights of a Committee Member. The Head of the Committee is appointed by the PFTS Board from among the Committee Members.
PFTS Settlement Committee
The Committee was created on May 26, 1998. The key objective of the Committee’s activities is to ensure development of financial standards for PFTS members, implementation of rules and procedures for making settlements under agreements executed within the PFTS Stock Exchange, and development of risk management rules for PFTS members, the PFTS Stock Exchange Trading System and settlement transactions. The Committee is a standing body of PFTS, which reports to the PFTS Council. When making their decisions, the Council and other bodies of the Exchange must take into account the Committee’s decisions.
To achieve its objectives, the Committee drafts, amends and submits for approval by the PFTS Council:
- proposals on amending the PFTS regulatory documents in the part governing the ways and methods of establishing mutual obligations and making settlements under agreements executed within the PFTS Stock Exchange Trading System;
- proposals on improving the ways of formalizing agreements executed within the PFTS Stock Exchange Trading System;
- the PFTS risk management rules and standards;
- requirements to the financial standing of PFTS members aimed at reducing the individual risks of the participants, as well as the risks of the PFTS Stock Exchange Trading System;
- forms of financial statements of PFTS members;
- back office rules and standards for PFTS members;
outlines and implements:
- basic principles for implementation of a settlement system with participation of depository institutions for agreements executed within the PFTS Stock Exchange Trading System;
- a system for managing risks associated with execution and performance of agreements within the PFTS Stock Exchange Trading System, taking into account the activities of depository institutions;
- cooperation with regulatory authorities, PARD, and other associations of securities market participants, and also with external consultants on development of the technology and uniform standards for operation of the infrastructure unit of the stock market, on development and adjustment of reporting rules and risk management standards.
PFTS Index Committee
The Committee’s activities are aimed at improving the methodology for calculation of PFTS stock indices, ensuring their maximum representativeness and correspondence to the current market conditions.
The Committee is a standing body of PFTS, which reports to the PFTS Council.
The Committee consists of representatives of the PFTS member companies, which duly perform their membership duties, of other persons of relevant qualification and work experience, and of a representative of the PFTS Administration, who is positioned on the Committee with full rights of its member.
