ROFEX Modifies Its Membership Scheme - A New Regulation That Benefits All Market’s Brokers
by 12 Jul 15:38
After its demutualization in 2006, as from which it is no longer necessary to be a shareholder to trade in the market, ROFEX places itself again at the forefront of Argentine markets by modifying its membership scheme. Memberships will be transferable as from August 1, 2012.
This fact becomes very relevant for the traders´community, since any company holding a ROFEX´s membership will have the possibility to transfer it to a third party.
“This is an important fact as the membership payment to trade in our agricultural and financial products´divisions will not be just an initial cost but it could be sell whenever you want, becoming an asset of our Brokers. As the Market’s maturity has already been reached, with more than 80 Brokers in the financial derivatives division and more than 100 Brokers in the agricultural products division, we believe that it is time for ROFEX´s membership to be an asset for our traders and not just an intangible one”, informed ROFEX´s authorities.
ROFEX will continue issuing memberships for those Broker candidates who wish to buy them from the Market, but the rates will be higher. The membership that gives the right to trade agricultural futures will rise to U$ 30,000 and the one that gives access to financial derivatives will increase to U$ 135,000.-
Once again, ROFEX takes a step forward regarding futures industry and capital markets in general, following the trend of the main financial markets in the world.