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.