How to Become a Member?
To become a member of the Bordeaux Wine Exchange, a candidate must complete an application form, undergo a due diligence review and execute an agreement stating he will adhere to all Exchange regulations.
All wine trades executed on the bwinex platforms are monitored by or attributable to responsible individuals who are accountable for the trading activities of both the member and the member's customers. They are also responsible for the conduct of trades executed in the member's name.
Membership Categories
There are three categories of membership that determine the type of business which members may conduct. In addition to a membership category, a member's status as a clearer (access to wineClear) will also impact the type of business they may conduct.
General Participants
General Participants may trade their own business and clients' business. They may also do give ups.
If the General Participant is a clearing member as well, they may clear their own business, clients' business or clear for any other member of the exchange who is not a member of the clearing house.
Trade Participants
Trade Participants may trade their own business, but may not trade on behalf of clients or do give ups. Likewise, if a Trade Participant is a clearer, he may only clear his own business.
Individual Participants
Individual Participants are sole traders or companies which are 90% owned or are 90% vote-controlled by a sole trader. Individual Participants may trade their own business only and may not do give ups.
Additional Notes
It is understood that "Own" business is business transacted solely for the benefit of that Member, a wholly owned subsidiary of that Member, the parent company of that Member, or a company in that Member's group of companies. Such business undertaken by a Member on behalf of another group company must not in turn be business undertaken on behalf of a third party.
General Participant and Trade Participant categories of membership must either be clearing members or, as non-clearing members, must enter into a clearing agreement with a General Participant who is a clearing member. An Individual Participant cannot be a clearing member and, as a non-clearing member, must enter into a clearing agreement with a General Participant who is a clearing member.
| General Participant | Trade Participant | Individual Participant | |
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| Château/Estate |  |
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| Négociants of the "Place de Bordeaux" | |
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| Wine Professionals | |
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| Wine Professionals | |
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| Wine Portfolio Managers | |
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| Investors, Connoisseurs, Consumers, and more… | |
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