The Board of the National Bank of Ukraine approved Resolution No. 461 of 5 November 2012 “On Approval of the Procedure for Registration by the Authorized Banks of Rules Governing Arbitrage transactions on the Margin Trading Terms with the National Bank of Ukraine”, which was registered with the Ministry of Justice of Ukraine on 26 November 2012 under No. 1976/22288.

The above said Resolution determines the list of documents to be submitted by the bank for registration of rules governing arbitrage transactions on the margin trading terms, time for consideration and the procedure for registering documents submitted to the National Bank of Ukraine, as well as grounds for refusal or cancellation of registration of rules governing arbitrage transactions on the margin trading terms.

The adoption of this Resolution represents the next step towards streamlining the arbitrage transactions. The requirements imposed on the market participants should be taken into account when elaborating the internal provisions and procedures for carrying out these transactions. The resolution is designed to make the arbitrage transactions more transparent and more comprehensible to the customers and protect the rights of consumers of financial services.

The above said Regulation shall take effect from 14 December 2012 – from the date of its publication the information bulletin "Ofitsiyniy Visnyk Ukrayiny" ("Official Herald of Ukraine").

Therefore, starting from 14 December 2012, the authorized banks will have the opportunity to submit the documents specified by this Resolution to the National Bank of Ukraine with the purpose of registering the rules governing arbitrage transactions on the margin trading terms.