A regulated market operator is a capital company that organises a regulated market and provides services related to the public circulation of financial instruments in accordance with the Financial Instrument Market Law, regulations of the Financial and Capital Market Commission as well as its own articles of association and regulations.
A regulated market operator is entitled to commence activities only after obtaining a licence from Latvijas Banka. To receive a licence for operating a regulated market, a market operator submits a licence application to Latvijas Banka, listing all the appended documents thereto as required in Section 30 of the Financial Instrument Market Law.
The minimum paid up share capital by a market operator is at least 730 000 euro, while own funds of a market operator may not be less than the minimum paid up share capital.
Latvijas Banka examines the application of a capital company for obtaining the licence and takes a decision within three months after the documents prepared and drawn up in accordance with all the requirements of laws and regulations laid down in the Financial Instrument Market Law have been received. A licence to operate a regulated market is issued to a capital company registered in the Republic of Latvia for an indefinite time period.
The Financial Instrument Market Law and other laws and regulations governing the activity of a regulated market operator are available on Latvijas Banka's website.