NEW VERSIONS OF CLIENT SERVICE DOCUMENTS
June 26, 2025
Dear clients,
We notify you of the approval on June 26, 2025 of the new versions of the documents of the SC "Vector Capital", which will be effective from July 11, 2025.
Documents in the new version can be found at the following links:
The main changes are due to the entry into force of the Instruction 6681-Y of the Bank of Russia «On the requirements for performing brokerage activities when a broker makes individual transactions at the expense of clients»:
In terms of services:
- a new category of clients is introduced - with an initial risk level (COIC), for which the smallest possible shoulders of securities included in the list of liquid assets are assumed.
- for Standard Risk Level (SRMC) and High Risk Level (SRMC) clients, the same requirement is introduced:
the amount of money in the brokerage account and the value of securities is not less than 3,000,000 rubles. ;
Or
the amount of money and value of securities is not less than 600,000 rubles. , and the Client has been a client of the Broker for the last 180 days, of which at least five days were concluded contracts with securities or contracts that are derivatives of financial instruments;
Or
The client is recognized by Broker as a qualified investor.
- there is a condition that the Broker does not provide services and does not make transactions at the expense of the Client on organized auctions or over-the-counter market on weekends, nor does it provide services to the Clients on non-collateralized transactions on weekends.
- amended annexes to the Regulation, namely "Annex 24" and "Annex 25": Applications for the provision of the possibility of conclusion of Margin transactions for natural persons and legal entities, as well as Annex 33 - a statement of the Client’s desire to change the risk category
- the definitions of some terms used in the text of the document, as well as technical corrections to the text of the document have been modified and supplemented.
In terms of tariffs:
- The Client’s debt arising from the payment of a stock exchange commission has been transferred free of charge.
The main changes are made in connection with the amendments made to the Federal Law of 22.04.1996 39-F «On the securities market», to the Tax Code of the Russian Federation, to the Decree of the President of the Russian Federation of 3 March 2023. N 138 «On additional temporary measures of economic nature related to the circulation of securities», in the Decree of the President of the Russian Federation of March 5, 2022. N 95 «On provisional execution of obligations towards certain foreign creditors» (some concepts such as foreign nominal holder, foreign authorized holder etc.)
Changes have been made to Annex 9 - Conditional order and Annex 10 - Special features of depository transactions in connection with the application of special economic measures to ensure financial stability of the Russian Federation; added Annex 44 - Declaration on unilateral termination of the Depositary Treaty.
The definitions of some terms used in the text of the document have been modified and supplemented, as well as technical corrections to the text of the document.