The Capital Markets (Derivatives Markets) Regulations

4. Application for licence

Edition: 2025-02-14 · In force

4. Application for licence

(1)A person who intends to establish a derivatives exchange shall submit an application for licensing to the Authority in the Form set out in the First Schedule.

(2)An application under subregulation (1) shall be accompanied by—

(a)the copies of memorandum and articles of association and rules governing the operations of the exchange, which —

(i)are in a form satisfactory to the Authority; and

(ii)restrict the applicant to the business of operating a derivatives market and services incidental thereto;

(b)details of trading, clearing and settlement systems proposed to be adopted by the applicant;

(c)the prescribed licensing fees set out in the Second Schedule;

(d)satisfactory bank references;

(e)a business feasibility plan evaluated by an entity with a proven track record and expertise in derivatives or derivatives market development, establishment or management; and

(f)such additional documents as the Authority may require.

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Source: Kenya Law