Requirements for Licensing Foreign Brokerage Firms to Trade on the Iraq Stock Exchange via the Tabadul Platform

In order for foreign brokerage firms to obtain a license to join the trading platform of the Iraq Stock Exchange, the following requirements must be met:

1. Completion of the Foreign Brokerage Firm Entry Form in its home country, according to the attached form.
2. A copy of the brokerage activity license granted to the company in its home country.
3. A no-objection certificate issued by the supervisory authority in its home country, in accordance with applicable laws.
4. A copy of the contract concluded between the foreign brokerage firm and the clearing house in Iraq.
5. A copy of the company's establishment contract and organizational structure.
6. A request to obtain an investor number from the Depository Center of the Iraq Stock Exchange.
7. Details of persons authorized to use the trading and deposit system.
8. A commitment by the company to take all necessary measures to protect customer data and their trading transactions, and to provide a cybersecurity system.
9. The foreign broker is required to provide a guarantee letter to cover trading risks.
10. The foreign company is required to establish a written policy for managing conflicts of interest.
11. The ratio of net equity to capital for the brokerage firm must not be less than 100% of the capital.
12. Acknowledgment of commitment to Legislative Order No. (74) of 2004 and the regulatory regulations issued therefrom.
13. A commitment to the accuracy of the information, data, and documents submitted for licensing purposes before the Securities Commission.

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TABADUL

Exchange Hub | Trading Platform

Trading for a Foreign Brokerage Firm

GENERAL INFORMATION

Applicant Information:

• Company Name:
• Address:
• P.O. Box:
• Phone:
• Fax:
• Email & Website:
• Number of Platform Users Requested:
• Country of Incorporation:
• Name of the Home Regulator:
• Country of Jurisdiction of Home Regulator:
• Is the Home Regulator a member of the International Organization of Securities Commissions (IOSCO)?
  • ☐ Yes ☐ No

Legal form of Applicant:

• ☐ Subsidiary of a foreign Bank
• ☐ Joint Stock Company incorporated in a foreign country
• ☐ Subsidiary of a foreign company engaged in financial services business
• ☐ Subsidiary of a foreign financial institution
• ☐ Others (specify)

Contact Details:

• Name of key person:
• Job Position:
• Address:
• P.O. Box:
• Phone:
• Fax:
• Email:

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EMPLOYEE INFORMATION

Job Title	Name	Nationality	Contact Numbers
General Manager
Trading Manager
Operations Manager
Compliance Manager
Finance Manager

BROKER TRADERS

Name	Nationality	Contact Numbers

BOARD OF DIRECTORS DETAILS

Name	Job Title	Shareholding Percentage	Nationality

LIST OF AUTHORIZED SIGNATORIES

Name	Job Title	Phone Number	Signature

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DECLARATION & ACKNOWLEDGEMENT

1. We, the undersigned, hereby acknowledge that all information provided and all documents in this application and attached thereto are accurate and correct.
2. We also undertake to disclose to the Iraq Stock Exchange any information about the Company or its customers upon request, and any changes in the Company's organizational or financial status, or any decisions taken by the Company in the parent country or any country in which it operates.
3. We undertake to exercise due care and maintain the confidentiality of information and data when practicing activities in the State of Iraq, and to abide by the provisions of laws, regulations, decisions, controls, and circulars issued pursuant thereto.
4. In addition, our company implements controls and procedures no less than those applicable in the State regarding Know Your Customer (KYC), Customer Due Diligence (CDD), Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), FATCA, and CRS regulations, as well as satisfying any requirements under the Iraqi Companies Law and related regulations.
5. We acknowledge that our professional records with the regulatory authorities licensing us do not include, during the six months preceding the date of submitting this request, any decisions on suspension or serious irregularities such as violations of solvency standards or separation of accounts, and that no license has been rejected by any equivalent regulatory authority.
6. Our company has the necessary software and technical systems in accordance with the requirements set by Iraq Stock Exchange decisions and circulars in force in the market, ensuring the proper application of laws, regulations, decisions, circulars, and internal regulations.
7. We shall maintain adequate internal control measures and risk management systems to monitor and manage our risk exposure in the market, as well as risks associated with our business operations, to the satisfaction of the Iraqi Securities Commission (ISC) and the Iraq Stock Exchange (ISX).
8. We shall not act contrary to the interests of the investing public, or to the requirements of the ISC and ISX.
9. We shall make satisfactory provisions for the orderly, transparent, and fair conduct of business, and undertake necessary provisions for the supervision of our employees and representatives.
10. We shall ensure compliance with ISX rules and/or the selected market rules, as well as Securities and Commodities Authority (SCA) regulations where applicable.
11. We have arrangements, procedures, and policies in place to ensure the timely settlement of transactions executed on the hub.
12. We further undertake that the ISX shall not be liable for any loss incurred by the member firm in the course of its dealing and activities through the hub. Thus, ISX is not responsible for any damage or loss that could occur due to any delay, disconnection, or malfunction of the hub, whether temporary or permanent, for any reason.
13. We accept the standards of professional conduct, regulations, and rules as determined by the Iraq Stock Exchange and undertake to comply with them.
14. We accept and agree that this request may be rejected by the Iraq Stock Exchange without any justification.

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Date: Name: Job Title: Signature: Company Stamp

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REQUIRED DOCUMENTS

1. Filled form for trading by a foreign brokerage firm.
2. A copy of the license to practice the brokerage activity granted to the foreign brokerage firm in the parent country by a regulatory authority equivalent to the Commission, which is currently valid.
3. A copy of the membership certificate of the supervisory authority in the International Organization of Securities Commissions (IOSCO), and proof that it applies controls and procedures no less than those in the country regarding Know Your Customer (KYC), due diligence measures (CDD), Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), FATCA, and CRS regulations, as well as meeting any requirements in accordance with the applicable Iraqi Companies Law and related regulations.
4. A no-objection certificate from the equivalent regulatory body in the mother country, as required by its laws.
5. A copy of the contract between the foreign brokerage firm and the clearing member within the State.
6. A copy of the internal control system that ensures the proper application of laws, regulations, decisions, and circulars issued pursuant thereto, and the internal regulations in force in the market.
7. A copy of the Company's Operational Risk Management Manual.
8. Approval of electronic trading by the relevant regulatory authority.
9. Approval of the Bank Office system by the relevant regulatory authority.

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TABADUL

Member Collateral Allocation Form

To be filled by the applicant

• Date: -
• Broker Name: -
• Exchange: -
• The Existing Bank Guarantee under: -

Exchange	Local Currency	Current Amount In Local Currency	Status (Mark if New)	Amount AED
ADX	AED	-	-	-
ISX	IQD	-	-	-
Others		-	-	-

• Total Trading Limit Via Tabadul: - Note: If you are a market maker on any Market, please add a Separate amount. For status, please specify if it is a new request or a change.
• Applicants Notes:

Authorized Signatory Broker Confirmation:

• Name:
• Title:
• Date:
• Signature and Stamp:

To be filled and Signed by Authorized Signatory in the Exchange/Depository

• Name:
• Title:
• Date:
• Signature and Stamp:

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Tabadul Hub Production Users Request

• Date:
• Brokerage Firm Name - Symbol:
• Exchange:

1. Trading User (Create only 2 users for trading)

Maker Employee Name	Job Title	Mobile	Email
1.
2.

2. Equator System (Equator Users with specification of who is the Maker/ Checker)

Maker Employee Name	Job Title	Mobile	Email	User privileges
1.				Maker
2.				Checker

Approval and Signature: (Authorized)

• Name:
• Title:
• Signature and Stamp:

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(Pages 8-22 are forms for "Open a trading account & KYC" for Individuals and Companies in Arabic and English, containing fields for personal/company information, declarations, and signatures.)