MEMBERSHIPS

ELIGIBILITY

Membership of CSE facilitates a person prospects to become trading members (stock brokers) of the Exchange through compliance of the regulatory provisions of CSE and SEC. There are 129 members in CSE all of whom are corporate bodies.

The eligibility criteria for the membership are presented below:

• a corporate body with a minimum paid up capital of BDT 2.5 million
• Any partner or director thereof as the case may be is/has not
• less than twenty-one years of age;
• bankrupt;
• person of unsound mind;
• Person convicted by a competent court of an offence involving moral turpitude.
• found at any time by SEC or any stock exchange or court involved in any misconduct in respect stock exchange transaction/market

Individual may apply and receive membership on condition that they form a corporate body within a specified time, usually 6 months from the date of the allotment letters issued to them. [Top]

BROKERS/DEALERS

The trading platform of a stock exchange is accessible only to broker , dealer and their authorised representative. At present Dealers can perform transaction on their own account only while brokers act as agent of their client.

Broker and Dealers shall be eligible to trade in CSE when it:

• becomes a members of the CSE;
• becomes members of the CSE Clearing House;
• open a Clearing Account with a Depository Participant of CDBL;
• obtains a Brokerage/ Dealership license from the Securities and Exchange Commission;
• is not otherwise barred by CSE or SEC

A broker, dealer or their authorised representatives complies with Code of conduct prescribed by SEC. [Top]

COMPLIANCE WITH RESPECT TO BROKER/DEALERS

The CSE brokers/dealers are required to comply with various requirements for continuing membership. These include:

1. Submission of:
   
   1. Audited Annual Accounts within four months of the end of the financial year;
   2. Monthly Net Capital balance Report;
   3. Shareholding pattern by-yearly;
   4. Any changes in respect of management, structural or legal status of Stock dealers/ stock brokers should be informed to the Commission within 15 (fifteen) days through stock exchange;
   5. Compliance Authority report relating to the compliance of rules and regulations of the Exchange and SEC by his/her member company. The report will have to submit to the Exchange within 15 days after the end of every six-months period ending on 30th June and 31st December of the year .
2. Maintenance of the net worth at least half of its paid up capital at all times.
3. Renewal of their license annually with SEC.

AUTHORISED REPRESENTATIVE

CSE broker/dealer may appoint Authorised Representative who are registered with CSE and SEC to act as an agent for doing all the activities related to buy and sell of securities through the stock exchange. The Authorised Representatives shall

• Not be less than twenty-one years of age;
• Have education qualification of HSC or equivalent;
• Not be adjudicated as an insolvent
• Not be a person of unsound mind;
• Not be convicted by a competent court of an offence involving moral turpitude;

Not received punished from the Commission or Stock Exchange.

COMPLIANCE AUTHORITY

Every Broker/dealer shall appoint one of its director or Chief Executive Officer as compliance Authority for a period not exceeding three years at a time subject to the following:

• He/she is not convicted of any criminal offence involving moral turpitude by a competent court;
• He/She has not been found by the Stock exchange or court involved in misconduct in respect of transaction in any security
• He/ She has obtained at least graduation degree.

DISCIPLINARY ACTION AGAINST MEMBER

CSE may exercise any of its following disciplinary powers against a member if the member or its director, authorised representative or employee commit any act or omission as mentioned in the Regulation 79 of the General Rules and Regulations of CSE.

1. Warning
2. Penalization;
3. Temporary prohibition from performance;
4. Prohibition from any performance of work in a member company within the period of time prescribed by the Board;
5. Expulsion

The expelled member shall forfeit to the Exchange its right of membership and all rights and privileges as a member of the Exchange [Top]

MEMBERS DIRECTORY

© 2000-2007 Chittagong Stock Exchange Limited All rights reserved
CSE Building, 1080, Sk. Mujib Road, Agrabad, Chittagong, Bangladesh
Tel:+88(0) 31-714632-3, +88(0) 31-720871 Fax: +88(0) 31-714101
Web Site- URL: http://www.cse.com.bd E-mail: info@cse.com.bd

To Best View Screen Resolution 1024 X 768 Recommended
Design/Developed & Maintained by: www.aspectratio.com.bd