Memberships sale and prices

The Purchase Process

Exchange memberships are offered through its offices as well as on-line through the website of Mercantile Exchange of Madagascar. The intended applicant will register with the website and receive an application form which he can complete on line and submit for Exchange Approval.

The Membership Department of the Exchange will conduct a complete due diligence of the applicant as per the compliance formalities set forth in the Exchange Bye laws. The Department will also determine the sources of funds used by the applicant to purchase the membership, using Anti-Money Laundering (AML) guidelines developed by the US Department of Homeland Security and in Compliance with Local Money laundering rules and regulations in Madagascar. After complying with the due diligence procedure about the applicant’s bona fides and background, the applicant will be notified that he is either accepted or rejected for membership. If accepted, the applicant may sign a membership agreement and transfer the membership fee as per the procedure to one of Mex Madagascar’s banks.

When the applicant’s funds have been received, the applicant will be assigned a member number and given access to the Clearing House whom he may then contact to set up a trading account.

Sales of Memberships

For the first three years of operation of the exchange, memberships may only be purchased from the exchange itself. A member wishing to sell his membership during this period may contact the exchange which could in turn sell it back to a new member or auction the membership. He will then receive the price, for his particular membership, which is prevailing at the time,

After expiration of the first three years , the exchange will stop issuing membership by application and facilitate a secondary market in which the intended buyer or seller will have an option to buy or sell his/her membership at market rates.

Costs and Fees.

Following is a table which lists the prices and ancillary fees associated with each membership.

 

Membership	Purchase Price	Annual Membership Dues
Clearing Member	€ 25,000	20 % of the Original Membership
Market Maker Member	€ 15,000	20 % of the Original Membership
Institutional Member	€ 5,000	20 % of the Original Membership
Introducing Brokers	€ 5,000	20 % of the Original Membership
Individual Member	€ 2,000	20 % of the Original Membership

 

The exchange will levy €200 as a processing fee from each applicant.

List of Contracts

Food Grains and Allied Products

• Wheat
• Corn

Oil Seed

• Soybean

Vegetable Oil and Fat

• Soybean Oil

Fiber Crops

• Cotton

Other Products

• Coffee
• Sugar
• Cocoa

Energy

• Crude Oil
• Mini Crude Oil
• Natural Gas
• Heating Oil
• Brent Crude Oil

Precious Metals

• Gold
• Silver
• Platinum
• Palladium