A member of the Exchange may be any person who has the property of being a merchant within the meaning of Art.1 of the Trade Act, companies inclusive, regardless of the presence and amount of foreign participation in them. Each shareholder who owns shares to the amount of 1% of the Exchange’s capital may be a full member of the Exchange. Irrespective of the way of membership acquisition, no Exchange member may have more than one membership in a separate exchange pit.
The members of the Exchange are full or permanent.
Full members are these who have acquired the right to participate in all exchange pits.
Permanent members are these who have acquired the right to participate in a specific exchange pit.
By virtue of entering into the register, the Exchange member receives an identification membership number and they are issued a membership certificate.
A person who would like to be admitted to membership on the Exchange shall be obligated to submit the following documents:
1. Request and Registration Form (see specimens);
2. Certified copy of court judgment on the person’s entering in the respective trade register;
3. Copy of the person’s registration with the Bulgarian Chamber of Commerce and Industry, if any;
4. Bank Reference issued by the commercial bank, servicing the person;
5. Reference provided by three members of the Exchange who have length of membership exceeding three years;
6. Absence of Impediments to Membership Declaration, in compliance with the SCE’s Statutes;
7. Declaration that the person is acquainted with the SCE’s Statutes and shall observe them steadfastly and unconditionally when carrying out exchange trade.
Within a one-month’s period from the date of submitting the documents, the Membership Commission shall consider the candidature of the respective person and shall deliver its opinion in writing about the candidate’s admittance or rejection.
Each member of the Exchange has the right to:
1. Participate in the general meetings of the exchange’s pits, whose members they are;
2. Elect and to be elected in the other bodies of the exchange’s pits, whose members they are;
3. Put forward proposals in regard to the development and improvement of exchange trade and the Exchange’s organization;
4. Raise well-grounded demands for imposing sanctions and for temporary or final removal of members;
5. Participate in the sessions of the exchange’s pits, whose members they are, and to conclude exchange transactions on their own behalf or on behalf of their clients by licensed brokers.
Each member of the Exchange shall be obligated to:
1. Implement the Management Bodies’ resolutions;
2. Co-operate so that the Exchange’s objectives are realized;
3. Carry out exchange trade while fully and unconditionally observes the requirements of the SCE’s Statutes;
4. Duly settle all their liabilities towards the Exchange, the Clearing House and the other members of the Exchange.