MEMBERSHIP CATEGORIES

The Exchange will register three (3) classes of members viz:

(a) Ordinary Member;

(b) Trading Member; and

(c) Institutional Trading Member

ORDINARY MEMBER

Individuals or corporate citizens are eligible to register as ordinary members. They are entitled to all right and privileges that any other members of the Exchange will enjoy except that they can not trade directly on the Exchange unless through a registered trading member.

TRADING MEMBER

Trading Members can initiate trades on the Exchange and solicit trades from their clients or customer with whom they have constituent agreement. They can trade on their accounts and the accounts of their clients and can be elected into the Council of the Exchange. Those that can apply for this category of membership are stockbrokers, commodity brokers and commodity merchant.

INSTITUTIONAL TRADING MEMBER

Processing Companies such as Cadbury, Nestle, Guinness, NASCO Group, Grandcereals & Oil Mills Ltd, Jos International Breweries and a host of others can apply as Institutional Trading Members. They can trade on their accounts and the accounts of other Institutional Trading Members. However, no Institutional Trading Member shall be allowed to trade on behalf of trading members and clients or customers that are not members of the Exchange.