Detailed rules of conducting trainings. by the Polish Power Exchange. on the Financial Instruments Market

Transcription

1 Detailed rules of conducting trainings by the Polish Power Exchange on the Financial Instruments Market Consolidated text adopted by the Resolution of the Management Board No. 299/76/16 of 7 December 2016 The detailed rules shell enter into force on 7 December 2016 NOTE: Only the Polish version of this document is legally binding. This translation is provided for information only. Every effort has been made to ensure the accuracy of this publication. However, the POLPX does not assume any responsibility for any errors or omissions. Page 1 of 9

2 I. General provisions The purpose of the document is to define rules and manner of conducting trainings by the Polish Power Exchange ("POLPX") for the persons who are going to perform the functions of Exchange Brokers at the Financial Instruments Market ("FIM") conducted by the Exchange and other people indicated by the Exchange Members ("Training Participants"). The Exchange organises obligatory trainings for the persons who are going to perform the functions of Exchange Brokers on the Financial Instruments Market and facultative trainings for the interested employees of the Exchange Members. The date of the training is publicly announced by the Exchange at least 7 days in advance, specifying also the date of conducting the examination if the training is addressed to persons who are going to perform the functions of Exchange Brokers at the Financial Instruments Market. The examination takes place within 14 days after the date of the training. 1. The training takes place in the Exchange's registered office. Upon request of an Exchange Member, the training may take place outside the Exchange's registered office The Exchange appoints persons responsible for conducting the training. 1. The Exchange Members submit their Training Participants based on the application for training, whose draft is enclosed as Appendix No. 1 and Appendix No. 2 hereto It is also allowed to submit Participants for training by an entity being in the course of applying for membership in the Financial Instruments Market. 3. Applications for conducting a training may be submitted within up to 3 working days preceding the date of the training. 4. The Exchange may limit the number of training Participants because of technical and organisational capabilities for conducting such training. In such cases, the candidates will be qualified for the training in accordance with the date of delivering a submission. Page 2 of 9

3 II. Rules and manner of conducting training activities for the persons who are going to perform the functions of Exchange Brokers on the Financial Instruments Market Persons who are going to perform the functions of Exchange Brokers on the Financial Instruments Market may be allowed to represent the Exchange Member in transactions concluded on the Financial Instruments Market after completing an obligatory training and obtaining a positive result at the examination ending the training. 1. Theoretic training for the persons who are going to perform the functions of Exchange Brokers on the Financial Instruments Market takes form of a lecture organised by the Exchange. 2. Thematic scope of the training shall include: a) the Rules for Financial Instruments Market of the Polish Power Exchange b) detailed rules regulating activities of Exchange Members on the FIM, c) generally applicable provisions of law regulating functioning of the FIM, d) issues regarding handling of IT systems of the Exchange, e) basic financial mathematics. 3. The list of regulations of the Financial Instruments Market and the provisions of law mentioned above, which are binding for Training Participants, are published by the Exchange at its website. In order to complete the training, the Training Participant should pass the examination organised by the Exchange. Passing the examination authorises the Participant to be entered on the list of Exchange Brokers at the Financial Instruments Market. 8. III. Rules of conducting the examination 1. Submissions for the examination should be submitted not later than 7 days before the date of examination, using a properly completed application form, whose draft is enclosed as Appendix No. 1 hereto. 2. The examination takes place in the Exchange's registered office. Upon request of an Exchange Member, the examination may take place outside the Exchange's registered office. 3. In the case of examination conducted outside the registered office of the Exchange, the President of the examination committee appoints the person supervising proper course of the examination, who is responsible in particular for ensuring that the examination test is completed individually by the examined persons. 9. Page 3 of 9

4 10. The examination is available for persons who completed the obligatory theoretical training and have been submitted to the examination by an Exchange Member based on the application enclosed as Appendix No The examination is conducted in the form of theoretical examination and the questions are of testing nature only. 2. The examination lasts for 45 minutes. 3. The examination form is composed of 30 test questions point is granted for each correct answer. 5. In order to obtain a positive result of the examination, the Training Participant has to obtain at least 20 points. 12. Training and examination are conducted in Polish language. Upon request of an Exchange Member, training and examination may be conducted in English The Exchange appoints the Examination Committee supervising the examination and the Appeal Committee resolving all appeals of the examined persons concerning the examination result. 2. The Examination Committee is composed of at least 2 persons and not more than 4 persons appointed by the President of the Examination Committee among the persons designated by the Management Board of the Polish Power Exchange. The works of the Examination Committee are managed by the President of the Committee appointed by the Management Board of the Exchange. The President of the Committee may appoint a deputy among those persons who may participate in the Examination Committee. 3. The Appeal Committee is composed of 3 persons appointed by the Management Board of the Exchange. The works of the Appeal Committee are managed by the President of the Appeal Committee appointed by the Management Board of the Exchange. 14. The Examination Committee may exclude from the examination the persons who use assistance of third parties or provide it, use forbidden auxiliary materials or disrupt the examination. 15. The results of the examination are announced in the registered office of the Exchange within 7 days after the date of the examination. If a Training Participant cannot appear in the registered office of the Exchange, information about the results of the examination may be delivered by post. Page 4 of 9

5 The examined person may appeal to the Appeal Committee against the result of the examination within 2 working days from the date of receiving the results. 2. In the period planned for submitting appeals, the examination tests may be accessed by the examined persons only in the registered office of the Exchange. 3. The appeal should be made in writing and contain a justification. 4. The Appeal Committee should consider the appeals within 7 working days after the deadline for submitting the appeal. 17. A positive result of the examination is confirmed by the certificate of granting the title of Exchange Broker at the Financial Instruments Market authorising the Training Participant to represent the Exchange Member in transactions concluded at FIM and to use IT systems of the exchange. 18. The Exchange keeps a list of persons who passed the examination and hold the title of the Exchange Broker at FIM authorising them to use IT systems of the exchange. 19. Before being entered on the list of Exchange Brokers at FIM, the person indicated by an Exchange Member to represent it in transactions concluded at FIM should pass the examination again if: a) more than 12 months lapsed from the date of removing that person from the list of the persons representing the Exchange Member in transactions at FIM until the date of submitting the application for re-entry on the list, or b) more than 12 months lapsed from the date of passing the examination to the date of submitting the application for entry on the list of the persons representing the Exchange Member in transactions at FIM. IV. The rules and manner of conducting the additional training on practical handling of IT systems of the exchange 20. The training on practical handling of IT systems of the exchange is not obligatory. It takes place using testing system which is accessed by the Training Participant and comprises practical application of the thematic scope specified in Article The thematic scope of the training on practical handling of IT systems of the exchange covers the rules and manner of handling the FIM trading system, in particular: a) delivering orders, Page 5 of 9

6 b) modifying orders, c) cancelling orders, d) receiving information about orders and concluded transactions, e) customisation of the settings of broker application, in particular aimed at preventing manipulation. V. Final provisions Training and examination for the persons who are going to perform the functions of Exchange Brokers on the Financial Instruments Market and the additional training on the practical handling of IT systems of the exchange are subject to the following fees: a) Fees applicable until 30 June 2017 Net fee 1. Fee for conducting the obligatory theoretical training PLN 0.00/person 2. Examination fee PLN 0.00/person Fee for conducting the additional training on practical handling of IT systems of the exchange (not obligatory) Additional fee for conducting the training outside the registered office of the Exchange, within the territory of Poland Additional fee for conducting the training outside the registered office of the Exchange, within the territory of Europe PLN /person charged on the basis of the costs incurred by the Exchange, but not less than PLN charged on the basis of the costs incurred by the Exchange, but not less than PLN 4, b) Fees applicable from 1 July 2017 Net fee 1. Fee for conducting the obligatory theoretical training PLN /person 2. Examination fee PLN /person Fee for conducting the additional training on practical handling of IT systems of the exchange (not obligatory) Additional fee for conducting the training outside the registered office of the Exchange, within the territory of Poland PLN /person charged on the basis of the costs incurred by the Exchange, but not less than PLN Page 6 of 9

7 5. Additional fee for conducting the training outside the registered office of the Exchange, within the territory of Europe charged on the basis of the costs incurred by the Exchange, but not less than PLN 4, The fees specified in items 4 and 5 of the above tables constitute an additional fee related to the necessity to conduct the training or examination outside the registered office of the Exchange, charged on the basis of the costs incurred by the Exchange, not lower than specified in the table above. 3. The fee for the training should be paid to the bank account of POLPX Bank DnB NORD Polska S.A. L103 SWIFT: MHBFPLPW 4. If the Training Participant resigns from the training on the date later than 3 working days before the specified date of the training, the fee is not subject to reimbursement. Page 7 of 9

8 Appendix No. 1 Application for conducting training/examination* for the person who is going to represent the Exchange Member in transactions on the Financial Instruments Market Particulars of the Training Participant: Name and Surname of the Participant Correspondence address, telephone I, the undersigned:... hereby grant my consent/do not grant my consent* for processing of my personal data contained in the present application pursuant to the Act of 29 August 1997 on Personal Data Protection (consolidated text, Journal of Laws of Laws of 2014, item 1182 as amended) as necessary for the Polish Power Exchange ("TGE") to keep the list of people who passed the examination and hold the title of the Exchange Broker on the Financial Instruments Market, including disclosure of my personal data on the list of Exchange Brokers on the Financial Instruments Market published on the website of TGE. /legible signature of the Participant/ Particulars of the Exchange Member or the entity applying for membership who will be represented by the Training Participant: Name and address of the institution submitting the Participant Correspondence address Telephone Provision of the above data is voluntary, but necessary for participation in the examination. * delete as appropriate Participation in the training and in the examination requires sending a legibly and fully completed Application and confirmation of making a full payment for the training and/or examination... (place, date)..... (signature of the applicant) Page 8 of 9

9 Appendix No. 2 Application for conducting the training on practical handling of IT systems Particulars of the Training Participant: Name and Surname of the Participant Correspondence address, telephone Particulars of the Exchange Member or the entity applying for membership: Name and address of the institution submitting the Participant Correspondence address Telephone Participation in the training requires sending a legibly and fully completed Application and confirmation of making a full payment for the training... (place, date).... (signature of the applicant) Page 9 of 9