NBFIRA Regulated ExchangeJoin Botswana's Commodity Market
Become a Member
Join Botswana's premier commodity exchange. Choose the membership category that fits your business and start trading with confidence.
9 Membership Categories
5–7 Day Onboarding
CCP-Cleared Trades
DvP Settlement
Membership Categories
Choose Your Membership Type
BMX offers nine distinct membership categories. Select the one that best matches your business model and trading objectives.
Trading Member
TMExecute trades on the exchange for yourself or on behalf of clients. The most common membership type for market participants.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Execute trades on the exchange
- Access real-time market data
- Participate in all trading sessions
- Route trades through a Clearing Member
Obligations
- Maintain minimum capital requirements
- Comply with position limits
- Pay trading fees as published
- Maintain adequate trading systems
Clearing Member
CMFinancial institutions that guarantee and settle trades, ensuring market stability and counterparty risk management.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Clear trades for themselves and clients
- Hold member margin and collateral
- Participate in Default Fund governance
- Access clearing and settlement systems
Obligations
- Maintain clearing member capital requirements
- Post and maintain Initial and Variation Margin
- Assume financial responsibility for client defaults
- Contribute to the Default Fund
General Clearing Member
GCMClearing Members authorized to clear for Non-Clearing Members, providing critical infrastructure to the market.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Clear trades for Non-Clearing Members
- Port client positions in default scenarios
- Access all clearing functions
- Participate in default management
Obligations
- Higher capital adequacy thresholds
- Enhanced risk monitoring for NCMs
- Provide guarantees for client members
- Maintain client asset segregation
Non-Clearing Member
NCMTrade through a General Clearing Member, ideal for firms that want trading access without clearing infrastructure.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Execute trades for own account
- Access trading platform
- Receive market data
- Appoint a General Clearing Member
Obligations
- Maintain trading member capital
- Route all trades through appointed GCM
- Pay trading fees
- Maintain trading system controls
Remote Member
RMInternational entities accessing BMX from outside Botswana under cross-border recognition agreements.
Annual Fee
USD 25,000
Capital: USD 100,000
Rights & Privileges
- Access BMX from foreign jurisdiction
- Trade eligible products
- Cross-border settlement arrangements
- Reciprocal regulatory treatment
Obligations
- Comply with BMX Rules as if incorporated in Botswana
- Appoint local representative for service of process
- Maintain equivalent AML/CFT standards
- Submit to Botswana jurisdiction
Warehouse Operator
AWOCertified storage facilities that issue electronic Warehouse Receipts and manage physical commodities.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Issue electronic Warehouse Receipts
- Charge published storage fees
- Access Warehouse Receipt Registry
- Participate in physical delivery
Obligations
- Maintain certified storage facilities
- Provide accurate grading and weighing
- Maintain full insurance coverage
- Submit daily stock reports
- Permit exchange inspections
Market Maker
MMProvide liquidity by continuously quoting buy and sell prices, earning incentives for market stability.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Fee rebates and incentives
- Reduced margin requirements
- Quote priority in order book
- Access market maker programs
Obligations
- Maintain continuous two-sided quotes
- Meet minimum presence ratios
- Honor all quoted prices
- Provide consistent liquidity
Special Participant
SPCooperatives, SMEs, and small-scale producers with streamlined requirements and reduced fees.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Access tailored products
- Reduced fees
- Simplified onboarding
- Producer-focused support
Obligations
- Maintain producer or cooperative status
- Comply with BMX Rules
- Settle through appointed Clearing Member
- Report material changes
Logistics Provider
LPCertified transport and handling companies facilitating physical movement of commodities.
Fees & Capital
Published in the BMX RulebookRights & Privileges
- Offer transport services on Logistics Marketplace
- Bid on transport jobs
- Receive payment for completed deliveries
- Access to delivery coordination systems
Obligations
- Maintain certified vehicles with GPS tracking
- Provide real-time shipment updates
- Submit digital Proof of Delivery
- Insure commodities in transit
- Maintain safety certifications
How to Join
Simple Application Process
From application to account activation, we've streamlined the process to get you trading quickly.
Step 01
Review Requirements
Review membership criteria and prepare documentation.
Step 02
Submit Application
Complete online form and upload required documents.
Step 03
Due Diligence
KYC/AML verification and financial assessment.
Step 04
Technical Setup
System integration and conformance testing.
Step 05
Approval & Go Live
Committee approval and account activation.
Ready to Join BMX?
Start your membership application today and gain access to Botswana's premier commodity exchange.
Applications are typically processed within 5-7 business days upon submission of complete documentation.