Membership Process and Steps
- The applicants should deposit their membership application using the standard form of ALSE and all the other necessary documents.
- ALSE can require extra information and documents and may see it necessary starting an investigation to verify their authenticity. ALSE can also require an interview with the applicant.
- After receiving a membership application and the additional information required, ALSE decides to either approve or refuse the membership. ALSE may also decide to partially approve the membership based on few conditions and/or limitations. ALSE notifies in written form the applicant on its decision including the reasons behind the decision. The ALSE should decide and notify the applicant within 30 working days from the date of application.
- In case the application is accepted, the decision of ALSE shall also include the authorization given to the broker(s) to use the ETS System.
- ALSE is bound to respect the confidentiality of any application received from a member or a membership application during its examination.
- ALSE notifies AFSA or the Clearing & Settlement Institution(s) regarding the approval of the new members and their brokers, as well as for the approval date and the date they will start trading.
- In case of a membership refusal, ALSE immediately notifies the applicant in a written form. The applicant can appeal ALSE’s decision to AFSA, in compliance with the Albanian Legislation in power.