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Legal frameworks
2007.11.30. Thursday 09:43
Standing Arbitration Court of the Money and Capital Markets

Parallel to creating the institutionalised capital market, the standing arbitration court was established in order to arrange the legal disputes between market players in a way conforming to the market. This court made its decisions within the framework of a one-phase procedure. Its major advantage is in the short deadline for procedures and the immediate enforceability of resolutions, not only within the borders of the Republic of Hungary, but also within the jurisdiction of the countries who are party to the New York Convention.

Further widening the former roles of the arbitration court, the CMA authorises the body with a scope of authority relevant for the credit market, and, in the future, it will operate as the Standing Arbitration Court of the Money and Capital Markets. It should be stressed that in the cases listed by the act, this body has an exclusive authority with regard to the arbitration courts with a seat in Hungary, i.e. no other arbitration courts can be specified in connection with the itemised list of capital and money market transactions.

 
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Value
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BUX
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196.10 (1.03)
1,011.06
1.11 (0.11)
1,231.77
5.97 (0.49)
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5.43 (0.45)
1,907.08
15.55 (0.82)