Member Structure

YKOFX trading system can be accessed only by its members. The exchange member structure is established as it follows:

1. Licensed Member

Licensed Members can trade all type of products listed on the exchange. They can be individual traders or can trade on behalf of their clients. Licensed Members are required to obtain a derivatives agent license before applying to be a member of YKOFX.

2. Limited License Member

Limited License Members are able to trade derivatives contracts on YKOFX as individual investors or on behalf of their clients, however they are limited to the underlying or variables of their licenses.

3. Trading Member

Trading Members can trade derivatives contracts on YKOFX only for their proprietary account. Trading Members must provide liquidity for the contracts as a role of market maker with the expertise on either futures trading or the underlying business.

 

How to apply for membership

In order to become a YKOFX member, the following requirements must be followed:

 

Licensed Member

1. Must have an authorization to manage derivatives business having the position of a full licensed member.
2. Must have a minimum paid-up capital and maintain a minimum amount of net liquid capital (NC) according to the established criteria.
3. Must accomplish the following requirements:

Human Resource - Having qualified representatives who have no limited particularities under the law on derivatives. Having the required number of officers who have corresponding knowledge and experience in derivatives transactions and can be qualified as authorized traders or compliance officers who supervise the performance of services related to derivatives contracts.

Working System - Having computer system and computer hardware that can be connected with the exchange. Being able to handle the necessary operations for performing the services of derivatives trading.

Risk Management - Having necessary policies for managing and controlling risk levels that result from price fluctuation, thus being able to undertake derivatives trading.

 

Limited License Member

1. Must have an authorization to manage derivatives trading having the position of a licensed member limited to the underlying or variable of their license.
2. Must have a minimum paid-up capital and maintain a minimum amount of net liquid capital (NC).
3. Must accomplish the same requirements in terms of Human Resource, Working System, and Risk Management in line with the Full License Member.

 

Trading Member

1. Must be approved by the board of directors or related regulators
2. Must have registered capital or to be financed with the help of common shares and preferred shares
3. Must accomplish the following requirements:

Human Resource - Having the required number of licensed traders able to manage the derivatives trading in an efficient manner.

Working System - Having computer system and computer hardware that can be connected with the exchange. Being able to handle the necessary operations for performing the services of derivatives trading.

Risk Management - Having necessary policies for managing and controlling risk levels that result from price fluctuation, thus being able to undertake derivatives trading.