MEMBERSHIP APPLICATION PROCESS

East Africa Exchange (EAX) is a membership-based organization. All traders are required to subscribe to EAX membership program prior to trading through the exchange. EAX has 6 categories of memberships:

1) Exchange Certified Trading Member Broking (ECT- Broking Member): Local companies trading on their behalf and on behalf of others.

2) Exchange Certified Trading Non-Broking (ECT - Non-Broking Member): Local Cooperatives and Small Trading Companies.

3) Exchange Certified Trading Member International Trader (ECT - International Trader Member): Those are corporate international companies

4) Exchange Certified Trading Member (ECT - Individual Trader): Individuals interested in trading through the platform).

5) Exchange Certified Member (Financial Institution): Banks and micro-finance institutions issuing trade financing, electronic warehouse receipt financing and trade settlements.

6) Exchange Certified Member (Government Institution): Local government Institutions interested in aggregation or strategic grain reserves program.

To acquire EAX membership the following three steps are required:

Step 1:

Contact the EAX Membership Manager, via email: info@ea-africaexchange.com and submit your inquiries or expression of interest about becoming an EAX certified Trading member and choose the type for International Trader. The membership Manager will forward you the form to submit.

Step 2:

Complete the membership application form and submit it along with the documents requested on the form that applies to your organization, and submit with an application-processing fee of $100USD. Please contact the EAX office for information on mode of payment. Members are also entitled to the payment of Admission fees. Please contact the membership manager on info@ea-africaexchage.com for further details on fees.

Step 3:

Approval of Membership Application will take fifteen (15) working days from the day that all the required documents are received by the EAX Membership Manager.

Once the membership application is approved, the applicant will be required to undertake a Membership Training, after which the applicant shall be entitled to an EAX membership number, ID Card, and Certificate.

Note:

• Prior to trading on the Exchange, all new members must be approved by the Capital Market Authority (CMA). This is a government of Rwanda regulatory body that regulates traded securities including stocks and commodities . Information on the approval process is available with the Exchange's membership manager.
• All EAX members will be assigned EAX Identification Number ( ID number) , EAX ID card and a EAX Membership Certificate.

REQUIRED DOCUMENTS

An applicant is requested to submit the application form along with the following documents, (duly attested by the applicant), which are a part of the membership criteria:

a) Certified copy of Company / Cooperative Registration Certificate;

b) Certified copy of Memorandum and Articles of Association;

c) Board Resolution on appointing authorized signatories;

d) Education qualification certificates of authorized signatories, certified by a Notary public officer if any;

e) Proof of experience of the authorized signatories in the form of CVs if any;

f) Address, communication details of the authorized signatories (National ID card/ Passport copy, telephone, cell, and email.);

g) Bank account details and a current Bank Statement displaying the past 6 months;

h) Tax Identification Number/ VAT registration certificate;

i) Two latest passport size colored photographs for authorized person(s);

j) Current police report of the authorized signatories;

k) Latest Auditors Report; and

l) Any other document, as may be specified by the Exchange.

(Please note that a, f, g, I and j are compulsory documents to be provided)

GENERAL TERMS

• EAX reserves the right to accept or reject any Membership Application, or amend the Terms and Conditions without assigning any reason whatsoever.
• Membership shall be subject to renewal every year (1) year on EAX applicable rate.
• Membership shall be subject to renewal every year (1) year on EAX applicable rate.
• Trading, Individual and government institution members who want to use our warehouses services, are entitled to signing the warehouse agreement, and abide to the terms and condition of electronic warehouse receipts financing and trading processes.
• ECT members can trade on spot contracts and forward contracts (off-taker agreement with the supplier) , Auction trading but also we have over the counter trading facilitations.