F.A.Q

An authorized representative of a trading participant (director, signatory, or broker) can log in only after the user receives an email from the Exchange containing the login assigned to them for accessing the system. You can review the authorization scenarios in the Exchange’s Electronic Trading System (ETS) here.

An application for participation in exchange trading is submitted through the Exchange’s ETS by the broker of an accredited trading participant. The training video on how to create a trading application is available  here.

The broker may submit an application for participation in trading no later than the application submission deadline specified in the trading announcement published in the trading calendar.

If the trading announcement specifies a margin requirement for participation, an application for participation in the auction may be submitted only if the trading participant’s clearing account in the Exchange’s ETS has a sufficient available cash balance to register for the selected lots.

The Exchange opens clearing accounts for buyers and sellers that are residents of Ukraine upon successful accreditation with the Exchange.

The Exchange credits the margin (security deposit) to the clearing account based on confirmation that the trading participant’s funds have been received in the Exchange’s bank account.

The buyer may deposit any amount into the clearing account without linking the funds to a specific auction or lot.

Funds credited to the clearing account in advance allow the trading participant to quickly use the available margin (security deposit) balance to submit applications for participation in different auctions.

If the buyer withdraws a submitted application for participation in an auction or is not selected as the winning bidder, they may immediately use the available margin amount to submit an application for registration in any other auction that is in the “Registration Open” status.

The margin payment must be transferred to the Exchange’s bank account specified in the trading announcement. The payment reference must include: “#URB-XXXXXX-C-URB-YYYYYY-SZZZ# Margin transfer under Clearing Services Agreement No. __ dated ..20__, VAT exempt”, where:

URB-XXXXXX-C-URB-YYYYYY-SZZZ is the number of the clearing account opened by the Exchange for the auction participant during the accreditation process (specified in the clearing account certificate provided to the participant upon accreditation);

Clearing Services Agreement number and date are the details of the Clearing Services Agreement concluded between the auction participant and the Exchange during the accreditation process.

To avoid errors when entering the clearing account number in the payment instruction, we recommend:

• copying it from the clearing account certificate or from your personal account in the Exchange’s ETS under the “Clearing” page, “Accounts” tab, using the account marked “# ACCOUNT” with the purpose “Primary”;
• making sure to include the hash symbol (#) at both the beginning and the end of the clearing account number.

The margin must be paid from the auction participant’s bank account specified in the clearing account certificate provided during the accreditation process.

There is no limit to the number of bank accounts from which a trading participant may transfer funds to top up their clearing account.

To return the unused margin (security deposit) balance or transfer a partial payment for goods received from the buyer to their bank account, the broker of the relevant trading participant must create a fund withdrawal instruction from the clearing account in their personal account within the Exchange’s ETS.

The amount specified in the instruction must not exceed the available balance in the clearing account (information about the available balance can be viewed in the personal account).

The Exchange transfers the funds to the buyer’s current bank account selected in the withdrawal instruction within 3 (three) business days after the instruction is received in the Exchange’s ETS from the clearing account administrator (broker).

When a contract is concluded, the buyer’s margin under the contract (less the Exchange commission fee) is automatically credited to the seller’s clearing account.

The seller’s broker must then submit a fund withdrawal instruction from the clearing account in their personal account within the Exchange’s ETS so that the Exchange can transfer the partial payment for the goods.

The buyer who is declared the winner of the auction pays the fee to the agent involved in the auction on the basis of the Exchange Certificate generated following the auction results, in which the relevant Exchange representative participated and the respective buyer was declared the winner.

Yes, absolutely. We provide brokers of accredited trading participants and the Exchange’s regional representatives (agents) with the opportunity to go through all stages of the trading process using the demo version of the Exchange’s ETS platform.

To do this, you need to:

• have a valid status as a member of the commodity exchange or as its regional representative (agent);
• contact the Exchange and request the creation of a demo account (see the contact details on the website);
• receive your test credentials and review the video tutorials available on our website;
• log in to the demo platform at https://demo-i.urb.ua/login and gain practical experience with exchange trading;
• if required, we can also launch a test trading session at a time convenient for you upon your request.

The buyer who is declared the winner of the auction and is a resident of Ukraine must sign the Exchange Certificate in the Exchange’s ETS. The certificate is signed by the buyer’s broker using the broker’s Qualified Electronic Signature (QES).

The buyer who is declared the winner of the auction and is a non-resident of Ukraine must confirm their acceptance of the terms of the Exchange Certificate by accepting it in the broker’s personal account using the broker’s personal electronic identifier.

• If both parties to the sale and purchase agreement are residents of Ukraine and the Exchange has established a standard agreement template for the exchange commodity, the agreement is concluded within the Exchange’s ETS by being signed with a Qualified Electronic Signature (QES) or an Advanced Electronic Signature (AdES) by the authorized signatories of both parties.
• If the agreement is concluded using a standard template provided by the seller, or if the buyer under the agreement is a non-resident of Ukraine (in cases предусмотрені by the Trading Regulations), the agreement is concluded outside the system. The buyer must then upload a scanned copy of the original paper sale and purchase agreement to their personal account within the Exchange’s ETS within the period specified by the Trading Regulations. Once the file is uploaded, the document is considered signed in the system by the buyer, which is confirmed by the corresponding signature status indicator (check mark). To complete the registration of the agreement in the Exchange’s system, the seller must apply a Qualified Electronic Signature (QES) to the electronic copy uploaded by the buyer within the period specified by the Trading Regulations. By applying the QES, the seller confirms that the electronic copy is identical to the original paper agreement.

• If the agreement is concluded using the standard template established by the Exchange and is signed with a Qualified Electronic Signature (QES) or an Advanced Electronic Signature (AdES) by the authorized signatories of both parties within the Exchange’s ETS (where both parties to the sale and purchase agreement are residents of Ukraine), the agreement number is assigned automatically by the Exchange’s ETS.
• If the agreement is concluded using the standard template provided by the seller and is not signed with a Qualified Electronic Signature (QES) or an Advanced Electronic Signature (AdES) within the Exchange’s ETS (in cases provided for by the Trading Regulations), the parties must use the agreement number automatically generated by the Exchange’s ETS when preparing the agreement outside the system. This number is available in the personal account under “Trading Documents” → “Documents Pending Signature”. Failure to follow this agreement numbering procedure constitutes a violation of the applicable Trading Regulations.

If the buyer’s broker fails to sign or confirm the Exchange Certificate within the prescribed period (no later than 6:00 p.m. on the fifth business day following the auction date, exclusively during the trading day), both the exchange transaction and the corresponding Exchange Certificate are automatically cancelled in the Exchange’s ETS on the next business day after the deadline expires.

If the seller and the buyer fail to conclude (or register with the Exchange) the sale and purchase agreement within five (5) business days following the auction date, the exchange transaction and the corresponding Exchange Certificate are automatically cancelled in the Exchange’s ETS on the next business day after the deadline expires.

If the exchange transaction and the Exchange Certificate are cancelled due to the buyer’s fault, the Exchange may apply the following sanctions:

• retention of the security deposit (margin), if the buyer provided one to secure the performance of its obligations;
• a penalty, if no security deposit (margin) is required for the relevant category of exchange commodity. The buyer must pay the penalty within three (3) business days after receiving the payment request.

If the exchange transaction and the Exchange Certificate are cancelled due to the seller’s fault (failure to sign the sale and purchase agreement), the Exchange may impose sanctions on the seller, including suspension of the seller’s eligibility to participate in exchange trading for up to three (3) months. In such cases, the exchange transaction is cancelled without retaining the buyer’s security deposit (margin), provided that such a deposit had been made.

A mandatory requirement for granting authorized representatives of trading participants who are residents of Ukraine access to the Exchange’s ETS is the submission of their public key certificate to the Exchange during the accreditation process.

Instructions on how to obtain a public key certificate are available here.

Exchange members (trading participants) must notify the Exchange of any changes to the information and documents submitted during the process of obtaining Exchange membership (trading participant status) within two (2) business days from the date such changes occur.

Updated documents must be submitted through the personal account by navigating to “Registration Data” → “Documents”. To upload a document, click the upload field and select the required file, or drag and drop the selected file(s) into the upload area. Then click “Upload Document” to complete the submission.

The Register of Professional Participants in the Capital Markets and Organised Commodity Markets, maintained by the National Securities and Stock Market Commission (NSSMC), contains information on licensed entities operating in the capital markets and organised commodity markets. This electronic register allows users to verify a professional participant’s status, licensed activities, and contact details.

The Register is available on the official NSSMC website here: https://www.nssmc.gov.ua/en/reiestr-profesiinykh-uchasnykiv-rynkiv-kapitalu-ta-orhanizovanykh-tovarnykh-rynkiv/