of June 4, 2015 No. 231
About implementation of activities in the Forex curb market
For the purpose of regulation of activities of legal entities for making of the transactions initiated by physical persons and legal entities with non-deliverable off-exchange financial instruments (activities in the Forex curb market):
1. Determine that in the Republic of Belarus activities for making of the transactions initiated by physical persons and legal entities with non-deliverable off-exchange financial instruments (activities in the Forex curb market) have the right to perform:
the legal entities registered in the Republic of Belarus whose authorized capital is created taking into account requirements of this Decree in the amount of at least 200 thousand Belarusian rubles, and included National Bank in the register in Forex companies (further - Forex company);
National Forex center;
banks;
non-bank credit and financial organizations.
Making of the transactions initiated by physical persons and legal entities with non-deliverable off-exchange financial instruments by the individual entrepreneurs and legal entities who are not specified in part one of this Item is illegal and is forbidden.
2. Transaction with the non-deliverable off-exchange financial instrument is the off-exchange transaction, consists of two parts - opening and position closing, does not provide the rights and does not establish obligations of the Parties on purchase (sale) of underlying asset, but creates obligation to pay (the right to receive) difference amount between the price of underlying asset at the time of position opening and at the price of underlying asset at the time of position closing.
Position opening is made by the legal entity or physical person which signed the agreement on making of transactions with non-deliverable off-exchange financial instruments about Forex company National Forex center, bank, the non-bank credit and financial organization (further - the client), by the direction of the order about fixing of the price of underlying asset.
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