1. Code

1.1 Exchange service (swap body) or exchanger is a service dealing with the exchange of Swiss Stocks Exchange electronic currency to another electronic currency or cash money. Any exchange service (swap body) becomes a partner of the system only after filing an application and registration of its Member ID as the Member ID of exchange service (swap body) - partner.

1.2 The present rules should be observed by all the exchange service (swap body) - partners of Swiss Stocks Exchange payment system. These rules regulate the order of exchange of Swiss Stocks Exchange electronic currency to another electronic currency or cash money.

1.3 Exchange service – partner that undertakes obligations to exchange Swiss Stocks Exchange electronic currency shall conduct all the exchange operations quickly and without delay.

1.4 Exchange service - partner shall publish the detailed information on the exchange terms and put the logo of Swiss Stocks Exchange payment gateway referring to www.SwissStocksExchange.is on its site.

1.5 Before starting exchange operations with Swiss Stocks Exchange system every exchange service shall submit its Member ID for identification of the exchange service (swap body). All the exchange operations can be conducted only from one Member ID which should be certified and assigned to your exchange service (different accounts are allowed but all of them should be under one Member ID).

1.6 Exchange service is allowed to set any exchange fees for the transactions with Swiss Stocks Exchange electronic currency. The maximum allowed fee for the exchange of Swiss Stocks Exchange should not exceed 10%.

1.7 Every official exchange service of Swiss Stocks Exchange system shall react immediately to all the system messages of Swiss Stocks Exchange and resolve all the possible problems in accordance with system Code.

1.8 The exchange service shall present all the information on client’s data and the transaction data upon request of SR & I.

1.9 Ignorance of Code of exchange services – partners is no excuse for exchange partners.

2. Advantages of partnership with Swiss Stocks Exchange for exchange services

2.1 Swiss Stocks Exchange system is ready to support and motivate the exchange services, and is interested in long-term and reliable partnership with exchange partners. Swiss Stocks Exchange is ready to provide the following advantages to its exchange partners.

2.2 Exchange services have a right to withdraw the account balances from Swiss Stocks Exchange system by bank wire on favorable terms, without 2% fee charged by the system. The bank wires of exchange services are carried out on a priority basis.

2.3 Increase of interest on balance depending on the turnover of the exchanger. The interest is regulated by the system administration on an individual basis.

2.4 Crediting of the exchange services with Swiss Stocks Exchange electronic currency, depending on the turnover and period of operation.

3. Activities of exchange services diminishing the reputation of Swiss Stocks Exchange payment system include but not limited to the following ones

3.1 Exchange of Swiss Stocks Exchange currency with considerable losses for the client and excess profits for the exchanger itself.

3.2 Activities aimed at decreasing payment system liquidity.

3.3 Deliberate change of mid-market rate of exchange of electronic currencies.

Swiss Stocks Exchange payment system is permissive towards exchange service - partners and calls not to fail to observe the present Code. In case of systematic violation of Code, the exchange service-partner will be excluded from the list of the partners and Swiss Stocks Exchange will not recommend undertake the transactions through that exchange service.