We hereby inform you that, pursuant to the decision of the Exchange Council of Ukrainian Resource Exchange LLC (URB) (Minutes No. 6 dated March 28, 2025), amendments have been made to the Regulations on the organization and conduct of exchange trading for the “Unprocessed Timber and Lumber” market at the Ukrainian Resource Exchange LLC (hereinafter referred to as the Regulations) by adopting a new edition of the Regulations.
The main amendments to the Regulations include:
- requirements for the formation of lots by initiators of timber sale auctions and Dutch auctions (Section 6 of the Regulations);
- procedures for organizing purchase auctions (reverse auctions) (Clause 10.3 of the Regulations);
- changes to the procedure for concluding and registering timber sale and purchase contracts in the Electronic Trading System (ETS) (Clause 11.8 of the Regulations);
- removal of the provisions concerning liability for violations of the Regulations and Appendix No. 20 to the Regulations, with the corresponding provisions incorporated into the Regulations on the application of sanctions.