Filing Procedures and Minimum Requirements for Registration
as Dealer (Floor Broker) under The Commodity Futures Act
"Floor Broker" means an individual who is registered
under the Act as a dealer in the floor broker registration category [MSC
Rule
2000-11, 1.1].
(a) may
(i) in or around a pit, ring, post or other place provided by a commodity futures exchange for the meeting of floor brokers and others similarly engaged, and
(ii) for himself or herself and for other exchange members,
buy and sell contracts on, or subject to the rules of, the exchange; and(b) may engage in soliciting or accepting orders from exchange members for the purchase or sale of contracts on, or subject to the rules of, a commodity futures exchange [MSC Rule 2000-11, 2.1(1)].
Please note that, pursuant to Section 3.10(2)(a) of the MSC Rule 2000-11, only an individual can be registered as a Floor Broker.
Firms are required to be enrolled with CDS for the purpose of registering by way of NRD. To obtain information on enrollment, please refer to the NRD website: www.nrd-info.ca; or contact CDS, NRD Administrator help line: 1-800-219-5381. Also, refer to Chapter 3 of the NRD Filer Manual for the NRD forms, fees and other related information that is required to be completed for the purpose of registering with the NRD system.
Once The Manitoba Securities Commission (MSC) has received hard (paper) copies of the required documentation to register the Firm, MSC staff will amend NRD records and notify you. The Firm can then submit the appropriate submissions for the individuals by way of the NRD System.
a) File a completed and executed Form 5 indicating that the Firm is applying for registration as a Dealer (Floor Broker) [MSC Rule 2000-11, 3.2(1)]. Please answer "n/a" to questions 15, 17, 19, 21, 23, 24 and 25 of Form 5. Submit appropriate fee of $1,000 for registration of the Dealer (Floor Broker). Cheque is to be made payable to the Minister of Finance.
b) As Floor Brokers must be an individual under the Act, an application for registration for Floor Brokers must be processed through NRD. Please refer to MSC Notice 2002-46 – Notice of Rule Under the Securities Act and The Commodity Futures Act Multilateral Instrument 33-109 and Companion Policy 33-109 Registration Information (Notice 2002-46 and MI 33-109).
c) A current photograph of each Manitoba resident individual registered as a Floor Trader must be available at the applicant’s place of business.
3. Provide evidence of membership with the Winnipeg Commodity Exchange in the same membership category as the registration category being applied for under the Act [MSC Rule 2000-11, 3.17].
An individual applying as a Floor Broker shall possess and file evidence of the successful completion of the Floor Brokers Course, administered by The Winnipeg Commodity Exchange [MSC Rule 2000-11, 3.12].
Where the qualification in Item 4 is not met, exemption from this requirement may be granted where the applicant has educational qualifications and experience that are equivalent, and are satisfactory to the Director [MSC Rule 2000-11, 3.15]. Such exemptions are to be filed by way of NRD (Apply for an Exemption Submission).
For each Floor Broker, please provide a completed Securities Fraud Information Centre Records Request Form. Faxed copies are acceptable, fax no. 204-945-0330.
Copies of The Commodity Futures Act and Regulations may be obtained, at a cost, from:
Statutory Publications
200 Vaughan Street
Winnipeg MB R3C 1T5
Telephone No.: (204) 945-3101
Fax: (204) 945-7172
If you have any questions regarding this matter, please contact Isilda Tavares, Registration Officer. (Direct Telephone: (204) 945-2560), Fax: (204) 945-0330, or via e-mail: Itavares@gov.mb.ca.
Dated: August, 2004