Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
must be signed by the principal authorized official at the counter of the
account-opening branch, in front of two witnesses, one of whom must be the
Branch Manager.
7. The account-opening branch shall immediately send, through fax, a copy of
the signed (completed) power of attorney, together with the number of the
account opened with the CATS’s CPC for further communication to the ECX
and for maintaining the ECX-settlement account at the branch.
8. The original power of attorney shall be delivered to the principal (or to the
ECX member) once it has been ascertained that all the required documents
have been submitted to the branch.
9. The account-opening branch shall subsequently send to the CATS’s CPC a
copy of the customer’s trade license, a copy of the power of attorney and
copies of the Article of Association and of the Memorandum of Association.
2. The Operation of an ECX-Bank-Settlement Account
1. The Settlement Team shall accept instructions, process them and send its
responses thereto electronically every working day—that is, Monday
through Friday—in the following manner:
1) Pay-in transaction:
2) Balance enquires:
14:00–16:00 (+1 hour extension for
Exceptions)
17:00 –19:00 (+1 hour extension for
Exceptions)
(Could be ECX gateway serve, not core banking)
3) Pay-out transactions: 08:00 –10:00 (
4) The times given herein above are likely to change in
the future when the ECX begins trading commodities futures and the
banks complete full automated integration with their core banking
systems.
CATS Procedure |
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