Role of Market Participant
Choosing a market participant is an essential step towards operating in the SSX stock market. SSX market participants are professionals who buy, sell, and trade shares for clients. The main role of SSX market participants is to complete any delivery and settlement of transactions required by the client. The tasks of SSX market participants go well beyond this main role, however. For instance, SSX market participants are also required to perform market analysis and build good relationship with clients.
SSX market participants are responsible for the settlement of transactions occurring on the stock market of SSX. A SSX market participant may appoint an agent to perform their settlement obligations, but the SSX market participant remains liable for any acts or omissions of its agent. Settlement will occur on a T+2 basis unless the parties agree otherwise.
Prior to a SSX market participant accepting an order from a client to buy or sell securities, they must inform the client of current market information and any material announcements by the listee.
The delivery and settlement obligations in relation to a transaction are:
- The selling SSX market participant must deliver the securities to the buying SSX market participant by delivering all valid documents necessary for the securities to be registered in the name of the acquirer; and (formatting)
- The buying SSX market participant must pay the selling SSX market participant the consideration for the securities.