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Access to the BEST

According to the Securities Law, services related to the execution of customers’ orders, informing customers on the purchase and sale of Securities that is not investment advice may, within a brokerage house, only be provided by licensed brokers.
 
According to the MSE’s membership rules, only brokers employed with the MSE member and licensed by the MSE to access the BEST system may have access to the BEST system to trade with securities.
 
An authorized broker acquires the status of a broker licensed by the MSE to access the BEST system if the following requirements are met:

  • the member shall submit evidence that the person has a valid broker license issued by the Securities and Exchange Commission;
  • the person shall pass or has passed a special expert exam organized by the MSE;
  • the member shall submit to the MSE a statement that all transactions realized by the broker on behalf of the member will be treated as transactions realized by the member, and the member will be duly responsible for them;
  • the member shall submit evidence that the broker has full-time employment status according the Law on Labor Relations;
  • the broker shall submit to the MSE a statement that he/she is aware of the MSE acts, and that he/she accepts and adheres to them.


The authorized broker may not acquire the status of broker licensed by the MSE for access to the member’s BEST system, if there is a valid decision against him for exclusion from trading, due to a violation of the MSE acts and/or the member’s internal acts.