where to trade commodities
where to trade commodities: the Commodity exchange shall be based on the principles of membership of the Association of employers, created by them with the purpose of organization and regulation of the exchange trade, carried out in the form of open public bidding, held in advance a certain place at a certain time in established by its rules.
Commodity exchanges are intended for the organization of wholesale trade, carried out between employers, although they are usually non-profit organizations. With their help entrepreneurs make and execute the lucrative commercial deals, while the activity of a stock exchange income does not bring, and therefore requires funding on the part of its participants. In the period of transition to a market commodity exchanges were created in the form of commercial organizations the founders (participants) of which receive income from each concluded on a stock exchange transaction, which was contrary to the essence of the exchange trade and led to a rise in the cost of implemented through the exchange of goods. Gradually, the organizational-legal form of the stock exchange as a non-profit organization closer to its classical design, known to many foreign правопорядкам. However, the current Russian legislation still retains features of the previous approach with the organization and activity of exchangesin particular,
allowing the possibility of obtaining the members of the exchange dividends in the cases, envisaged in its Charter.
where to trade commodities: the Exchange does not have the right to independently implement trade, intermediary or other entrepreneurial activities that are not directly related to the organization of the exchange trade, and also may not create economic societies and partnerships, not aimed to organization and regulation of stock exchange trade, or to participate in them. Exchange activity is licensed.
Commodity exchange is created commercial organizations or individual entrepreneurs, the number of which may not be less than 10. Among the founders and members of the exchange may not be the bodies of state and municipal authorities and management; banks and other credit institutions; insurance and investment companies; social, religious and charitable organizations and funds; the employees of this or any other Mercantile exchange; other categories of persons, in accordance with the law.
The constituent document of the exchange is its Constitution, which must include the following information: on the types of goods, with which transactions are made on the stock exchange; the composition and competence of its bodies and the order of adoption of decisions by them; for the maximum number of members of the exchange, the conditions and the procedure of acquisition, suspension and termination of the exchange membership; on the rights and duties of members of the exchange and their categories; the the amount of the Charter capital and other funds of the exchange.
Being a kind of Corporation, a commodity exchange has the highest authority in the person of the General meeting of the members of the exchange, which provides for the realisation of all the rights and obligations of the exchange and its members. The share of each participant (founder) of the exchange in its authorized capital (and accordingly, the number of his votes at the General meeting) may not exceed 10%.
Reorganization and liquidation of the exchange is made according to the General procedure established for legal entities. In particular, liquidation of the exchange may be effected by the decision of the Supreme management body of the exchange, as well as a court or an arbitral Tribunal.
