H01. Membership Application Form Annex I
HUDEX
Annex I
of Membership Application Form
Date (Version) 27/11/2017
Place Budapest
Document number H01
1. User default set up
Default set up of User 1 (Derivative indicator[1])Last name
First name
Date of birth
National ID[2] of User 1 according to 2017/590 Delegated Regulation (RTS22)
Hedge
Speculative
Default set up of User 2 (Derivative indicator)
Last name
First name
Date of birth
National ID of User 2 according to 2017/590 Delegated Regulation (RTS22)
Hedge
Speculative
Please note that the Speculative option will be set as default, in case the User does not specify otherwise.
In case the User trades both Hedging and Speculative, the use of Trayport Joule/Joule Direct or other proper Front End may be required for the access to the Trading System as defined in the Technical Requirements available on HUDEX Website.
2. Default setup of a decision maker within the company for the purpose of transaction reports according to MiFIR
Decision maker for User 1Last name of the User as indicated in the Trader registration form
First name of the User as indicated in the Trader registration form
Last name of the decision maker
First name of the decision maker
Date of birth of the decision maker
National ID[3] of the decision maker according to 2017/590 Delegated Regulation (RTS22)
Decision maker for User 2
Last name of the User as indicated in the Trader registration form
First name of the User as indicated in the Trader registration form
Last name of the decision maker
First name of the decision maker
Date of birth of the decision maker
National ID of the decision maker according to 2017/590 Delegated Regulation (RTS22)
In case the Company would like to set up more than one decision makers for the same User, the use of Trayport Joule/Joule Direct or other proper Front End may be required for the access to the Trading System as defined in the Technical Requirementsavailable on HUDEX Website.
3. Default setup of a person responsible for execution within the company for the purpose of transaction reports according to MiFIR
The default setup for the person responsible for execution is always the Trader, who performs the related trading activity within the Trading System.
4. Default setup for position reports and position limits
The Company may choose a default setup for the position limits and position reporting. Please indicate the chosen default setup in the tables below, which will be then used for all Trades concluded on HUDEX in the position reporting and position management procedures.
Please note that the Speculative option will be set as default in the position reports, in case the company does not specify otherwise.
HUDEX will use the below indicated setup for position reporting and position limit controls as long as the Company does not indicate different purpose for the given daily positions during the respective daily procedures.
Default setup for position limitsHedge
Speculative
5. Transactions concluded on behalf of a client
Purchasing and selling for their own accountYes / No
Besides own account transactions the Company may also perform transactions (Trades) in its own name but for the account of a third party. Please indicate below.
Purchasing and selling in their own name for the account of a third party (client transactions)Yes / No
In case the Company would like to conclude transactions on behalf of a client, the use of Trayport Joule/Joule Direct or other proper Front End may be required for the access to the Trading System as defined in the Technical Requirements available on HUDEX Website. For eventual default setups in case of client transactions please contact HUDEX.
6. Legal status of clients, if company performs client transactions
Client is a legal personYes / No
Client is a natural person
Yes / No
7. Use of algorithmic trading according to Art. 4 (1) (39) of MiFID II
Company uses algorithmic tradingYes / No
If yes, please indicate the name and ID of your algorithmic trading:
8. Use of non-executing broker [4]
The default setup is that the Company is not using non-executive brokers during its trading activity.
In case the Company uses non-executive brokers, please contact HUDEX.
9. Declarations and Signatures
We, the undersigned ...... as representatives of ...... (seat:...... hereinafter as «the Company»), Applicant for being admitted as a member of HUDEX Hungarian Derivative Energy Exchange Private Company Limited by Shares (in the following: HUDEX Derivative Energy Exchange Ltd.), hereby allege that the Company
1. has appropriate internal procedures and contractual framework with its clients and with the Clearing House or with the Clearing Member, which ensure that in case of application of measures regarding position limits and position management control mechanisms according to Art. 317/A of Capital Acts that the company after the call of HUDEX
a. reduces or closes its open positions regarding the affected Contracts via concluded Trades or brings liquidity back to the market,
b. calls its client, if any to reduce or to close the open positions regarding the affected Contracts via concluded Trades or to bring liquidity back to the market and in case its client will not perform the instruction the company may apply unilateral measures in order to ensure the compliance with the call of HUDEX;
2. if the Company is not Clearing Member of the Clearing House who performs the clearing of the Trades, has appropriate legally effective contractual arrangement with the Clearing House or Clearing Member upon which the Clearing Member will become automatically contractual party to the concluded Trades (exchange transactions) and the applicable rules of Commission Regulation 2017/582/EU are fulfilled;
3. if the Company is not Clearing Member of the Clearing House who performs the clearing of the Trades, enters into Trades (exchange transactions) for its own account or on behalf of a client, ensures that the Company or its clients as the case may be has appropriate, legally effective contractual arrangements in place pursuant to which it or the client, as the case may be, becomes the counterparty to the Trades after the clearing relating to such Trades is performed pursuant to direct or indirect clearing arrangements with a Clearing Member and the applicable rules of Commission Regulation 2017/582/EU are fulfilled;
4. accepts the terms and conditions of the Rules of OTC Trades Registration for Clearing.
Signed in TWO originals in English or in Hungarian language.
Authorised signatory of the CompanyName: Date:
Signature______ / Name: Date:
Signature______
1
[1] Term used in reports
[2] please indicate 1st priority
[3] please indicate 1st priority
[4] According to Art. 2 d) of Regulation No. 2017/580 the member or participant of HUDEX who routed the order on behalf of and in the name of another member or participant of the trading venue, identified as a non-executing broker as specified in field 6 of Table 2 of the Annex;