1. All prospective GFIM Dealing Members shall furnish the GFIM with a completed admission form indicating the names and contact details of their Traders.

2. A GFIM Dealing Member:
where it is a PD, shall provide two-way quotes for all agreed benchmarked securities listed; and
where it is a not a PD, is not required but may provide two-way quotes for all agreed benchmarked securities listed; and

3. A registered trader of a GFIM Dealing Member, must:
be a person designated by his institution to do secondary market transactions in securities listed on the GFIM;
be a full-time employee of that institution; possess the relevant qualification required by the regulator from time to time; and
on continuing basis, avail him or herself of relevant continuing professional development workshops organized by regulators, ACI Ghana, GSIA, GFIM or similar bodies.

4. A GFIM Dealing Member shall be responsible for:

• clearly written internal controls procedures with regard to the personal conduct of its registered GFIM traders;
• the segregation of duties within their operations; the establishment of adequate risk management and control measures in their organization;
• security measures covering dealing room equipment, personnel, etc.;
• adequate safeguards to prevent abuse where dealing for personal accounts is allowed;
• the mode of record-keeping, access to records and how long records are kept;
• recording of voice transactions; and
• adequate fidelity insurance cover for its operations.

5. A GFIM Dealing Member shall be responsible for the settlement of all transactions executed by their traders in accordance with the requirements of the CSD.

6. It is the responsibility of a GFIM Dealing Member to ensure that its registered traders’ activities are within the roles and responsibilities set out by the Dealer which shall include:

• instruments to be dealt in;
• traders transactional limits; and
• reporting procedure.

7. A GFIM Dealing Member shall notify the GFIM of changes in particulars of its traders including changes in contact details, resignations and any other form of disengagements.

8. A GFIM Dealing Member shall ensure, for the purposes of trading on the GFIM, that it has the following:

• requisite office infrastructure;
• a terminal or a platform that the GFIM may approve from time to time;
• communication system;
• trained and certified personnel (holding ACI or ADO certification and any other certification that may be approved by GFIM and SEC); and
• risk management system in place such as trading limits, approval limits and segregation of duties between trading desk and back office.

9. Know Your Client – An authorized dealer shall use due care and skill to obtain the basic know your client (KYC) information including the following:

• Completed KYC information, which provides for the name, age, investment knowledge, investment objectives, risk profile and contact information of the client.
• Source of client’s funds.
• The legal responsibility for trading decisions and guarantees of payment and settlement.
• Client account documentation signed by the client, the trader and the trader’s supervisor.
• Signed client‟s account management agreement with clients who require such service.
• Material changes to the client‟s profile and investment objective.