“URX” LLC took part in the round table “Results of the three-year functioning of the organized timber market on licensed commodity exchanges: results and expectations”, organized by the Association of Exchange and Electronic Platforms together with the public union “Association of Woodworking Enterprises of Ukraine”.
The event was attended by representatives of the State Enterprise “Forests of Ukraine”, State Agency of Forest Resources of Ukraine, National Securities and Stock Market Commission, members of parliament, woodworking business owners, as well as representatives of commodity exchanges that organize and conduct exchange trading (auctions) in the timber market.
The roundtable summarized the results of the first 3 years of timber sales exclusively on licensed commodity exchanges. Participants of the forestry and woodworking industries noted the high level of organization of commodity exchanges, a significant increase in the percentage of contracts fulfilled in the timber market, which was made possible by commodity exchanges monitoring the process of fulfilling the obligations of the parties to exchange contracts, an increase in revenues from timber sales due to the introduction of exchange trading, increased transparency and information support for the market.
The participants of the event expressed their desire to preserve and develop the model of timber sales through licensed commodity exchanges, including by defining the exchange mechanism for the sale of the resource at the legislative level.