The creation of an exchange is a rather lengthy and complicated process. It begins with the formation of an initiative group, whose members then become founders, and, as a rule, are part of the management of the exchange. They determine the main provisions of the future exchange and the directions of its activities.
Instructions
Step 1
The exchange can have a different organizational and legal form. It can be private or public, open or closed joint stock company. In Russia, exchanges are most often closed joint stock companies. When creating an exchange, you need to pay attention to the composition and number of founders. Such enterprises can be created by legal entities and individuals.
Step 2
The more founders the exchange has and the better their financial position, the more support they can provide in creating the exchange. However, the many founders present certain management challenges.
Step 3
As soon as the composition of the founders of the exchange is determined, it is necessary to conclude a memorandum of association. It should include the rights and obligations of members, the direction of the exchange, financing costs, payment of membership fees. The minimum authorized capital of the exchange will depend on the goals and objectives of its activities, the planned turnover, and the number of participants. Some exchanges, when created, have a minimum authorized capital, others - tens and hundreds of millions.
Step 4
An important role in the creation of an exchange is played by the determination of the par value of shares and the conduct of a subscription to them. A significant place in the organization is occupied by the determination of the face value of shares and the conduct of a subscription to them. The exchange can issue shares of different types and denominations. But most often, two types of shares are issued - common and preferred, of the same par value. When creating an exchange, you can issue a small number of shares in order to form a minimum authorized capital with their help and begin the normal organization of activities. The exchange can receive fixed assets from the auction sale of brokerage places.
Step 5
Exchanges are legal entities, they take part in trading on their own behalf, are responsible for the conduct of activities, are not responsible for the debts of other organizations, which, accordingly, are not responsible for the debts of the exchanges. They operate on the principles of self-government, self-sufficiency, have their own balance, settlement, currency and other bank accounts, their own logo and name.
