F.A.Q

An application to participate in an auction held by the Exchange is submitted via the Exchange’s ETS by the broker of an accredited trading participant. See a video tutorial on applying for participation here.

Deadlines for applications are specified in auction announcements published in the trading calendar.

If an auction announcement specifies deposit margin required to participate in the auction, a trading participant must have the specified amount of funds in their clearing account opened with the Exchange to be eligible to apply for participation in the auction.

The Exchange opens clearing accounts for buyers and sellers who are tax residents of Ukraine; this is done at the time of their accreditation at the Exchange.

The Exchange credits the margin deposit (collateral) to a trading participant’s clearing account upon confirmation of crediting of the trading participant’s funds to the bank account of the Exchange.

Buyers may deposit any amount of funds to their clearing accounts, irrespective of their participation in any given auction or purchase of any given lots.

Funds deposited to a trading participant’s clearing account can be promptly used as a margin deposit (collateral) to apply for participation in auctions that have deposit margin requirements.

Buyers that withdraw their applications for participation in an auction or fail to make a successful bid at such auction may immediately use the margin deposit placed for participation in it to apply for participation in any other auction open for registration.

Your margin deposit must be transferred to the Exchange’s bank account specified in the respective auction announcement. The Payment Details field must be filled in as follows: #URB-XXXXXX-C-URB-YYYYYY-SZZZ# Margin deposit placed as per the Clearing Services Agreement No. __dated __.__.20__ (excluding VAT), where:

• URB-XXXXXX-C-URB-YYYYYY-SZZZ is the number of the auction participant’s clearing account opened with the Exchange at the time of the auction participant’s accreditation at the Exchange (specified in the clearing account certificate issued at the time of accreditation).
• Number and date of the Clearing Services Agreement are the number and date of the Clearing Services Agreement made between the trading participant and the Exchange at the time of the auction participant’s accreditation at the Exchange.

In order to correctly specify the number of the clearing account in the payment instruction, it is recommended to:

• Copy the number from the clearing account certificate or from your personal page of the ETS web interface. To do this, go to the Accounts tab of the Clearing section and copy data from the field named ACCOUNT #. Please note that the account must be designated as Primary.
• When filing in the Payment Details field, make sure to put the # symbol before and after the number of the clearing account.

The margin deposit must be transferred from the auction participant’s bank account specified in the clearing account certificate issued at the time of accreditation.

An auction participant may have unlimited number of bank accounts used to deposit funds to the clearing account.

If you want to withdraw your margin deposit (collateral) or transfer received payments to your bank account, your broker has to place an order for withdrawal of funds from your clearing account in the ETS. This can be done at your broker’s personal page.

The amount of funds to be withdrawn cannot exceed the total amount of funds available in the account (can be checked at your personal page).

The Exchange will credit the funds to your current account specified in the order for withdrawal of funds within 3 (three) business days upon the order placement in the ETS by the broker.

When a purchase agreement is concluded, the buyer’s margin deposit under the agreement is automatically credited to the seller’s clearing account. Please note that the Exchange’s commission fee is deducted from the amount.

For the credited funds to be withdrawn from the seller’s clearing account, the seller’s broker has to place for withdrawal of funds at the broker’s personal page of the ETS web interface.

Successful bidders in auctions pay the Agency Fee on the basis of the Exchange Certificate generated for the respective auction. The fee is only payable if an agent has been engaged for the respective auction.

Yes, of course. For brokers of accredited trading participants and exchange representatives in the regions (agents), we provide an opportunity to go through all stages of trading on our demo enviroment of the ETS platform.

What do you need:

• have a valid status of a member of a commodity exchange or its regional representative (agent)
• contact the exchange with a request to create a demo account (see contacts on the website)
• receive demo-account credentials and familiarize yourself with video instructions on our website
• sign in to training demo platform https://demo-i.urb.ua and start practicing in exchange trading
• at your request, we will also launch a test trading session at a time convenient for you

Successful bidders that are tax residents of Ukraine have to get their Exchange Certificates signed in the ETS. It must be signed with the successful bidder’s broker QES.

Successful bidders that art not tax residents of Ukraine must confirm their acceptance of terms and conditions of the Exchange Certificate by accepting it at the broker’s personal page using the broker’s personal digital identifier.

All Exchange Certificates must be signed by 6:00 PM of the business day following the date of the respective auction.

• if the parties to the sale and purchase agreement are residents of Ukraine and the exchange has established a standard form of agreement for an exchange-traded commodity, such agreement shall be concluded in the exchange’s ETS by signing its QES/EDS by authorized signatories of the parties to the agreement.
• if the contract is concluded in the standard form offered by the seller, or if the buyer under the contract is a non-resident of Ukraine (in cases stipulated by the trading rules), such a contract shall be concluded by the parties and shall be certified by the buyer’s authorized signatory in the ETS of the exchange. This is done by uploading a scanned copy of the sale and purchase agreement signed by both parties by the buyer using the buyer’s personal electronic identifier.

• if the contract is concluded in the standard form established by the exchange and signed by the QES/UES of the authorized persons of the parties to the contract in the exchange’s ETS (if the parties to the sale and purchase contract are residents of Ukraine), the numbering of such a contract is carried out automatically by the ETS.
• if the agreement is concluded in the standard form offered by the seller and is not signed by the QES/EDS of the authorized persons of the parties to the agreement in the ETS of the exchange (in cases provided for by the trading rules), the parties must use the agreement number generated by the ETS automatically and displayed in the “Documents on the results of trading” / “Documents to be signed” tab of the personal account when forming the agreement outside the ETS. Failure of the parties to the contract to comply with the specified contract numbering procedure shall constitute a violation of the relevant bidding regulations.

In case the broker of the bidder-buyer fails to sign/certify the exchange certificate within the established time limit (no later than 18:00 of the business day following the auction date), such exchange transaction, as well as the relevant exchange certificate, shall be automatically canceled in the ETS on the next business day after the expiration of the above period.

In case the seller and the buyer fail to conclude (register on the exchange) the sale and purchase agreement in the prescribed manner within 5 (five) business days after the date of the auction, the exchange transaction, as well as the relevant exchange certificate on the next business day after the expiration of the of the aforementioned period shall be automatically canceled in the ETS.

In case of cancellation of the exchange transaction and the exchange certificate due to the fault of the buyer, the sanctions are applied by the exchange:

• margin withholding (if the buyer deposited margin to ensure fulfillment of obligations);
• a fine (if the exchange does not establish the payment of margin to ensure the fulfillment of obligations under exchange transactions in the relevant category of goods), which must be paid by the buyer within 3 (three) business days from the date of receipt of the request for payment of the fine.

If the exchange transaction and exchange certificate are canceled due to the seller’s fault (failure to sign the of the seller (failure to sign the sale and purchase agreement), the Exchange may apply to such seller sanctions in the form of suspension of admission to participation in exchange trading for up to three (3) months. In this In this case, the exchange transaction is canceled without the Exchange withholding the margin paid by the by the buying bidder (if the buyer has paid the margin).