Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
• The accounts mentioned above shall be created in any branch of the CBE that is
electronically networked to its (CBE’s) core banking database, except the limited
member pay-out account and the limited member client pay-out account, which
can be created even in a non-networked branch. The member and member client
accounts can be opened in branches other than where the ECX-settlement
account is opened.
1. Opening an ECX-Bank-Settlement Account
1. The ECX-settlement accounts, member pay-in and pay-out accounts and
client pay-in and pay-out accounts and clearing pay-in accounts must be
opened in an electronically networked branch.
2. The limited member pay-out account and the limited member client pay-out
account can be operated from either an electronically networked branch or a
non-networked branch.
3. After the account is opened, if an account holder member is reprimanded,
suspended or excluded from banking activities due to mal-operation, the
settlement branch shall immediately report to the CATS’s CPC, specifying the
type and frequency of the subsequent reporting to the ECX.
4. An account-opening order shall be forwarded by the ECX account-opening
facilitation letter to CATS’s CPC, which clearly specifies the following:
o The type of ECX membership;
o The required ECX bank account; and
o The networked branch that the member has selected for the new
account.
5. CATS’s CPC instructs the selected branch to open the ECX-member type
account.
6. The member shall present a power of attorney, giving the sole right of
debiting the pay-in account, prepared in four copies, to the Exchange, which
CATS Procedure |
r