Belarusian Commodity Exchange: online trading platform

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Belarusian Stock Exchange, a commodity trading platform where buyers and sellers from the metallurgical, woodworking and agricultural sectors meet to make transactions via the Internet.

Site efficiency

In 2016, more than 410 million euros worth of wood and wood products were sold at the timber products platform of the Belarusian Universal Commodity Exchange. And more than 446 million euros was the turnover in the metal products section.

Who can join

Eligibility to trade as a visitor or broker can be obtained:

• legal entities and individual entrepreneurs of the Republic of Belarus;
• foreign and international legal entities;
• unincorporated entities;
• individuals.

Documentation for study

Those who have appreciated the benefits of trading on BUCE and have a desire to trade on an electronic platform should study a number of documents:

1. First of all,familiarize yourself with the nomenclature of exchange commodities.
2. Then, take the time to get acquainted with the interpretation and explanation of the concepts and terms that are used in the regulatory legal acts of the Belarusian Commodity Exchange OJSC.
3. Familiarity with the Belarusian legislation will help to avoid mistakes and violations, which will make trading efficient and profitable.
4. The Belarusian Stock Exchange, whose commodity sections have their own regulations, has made them available for review on its website.
5. Get an understanding of exchange fee rates in different trading sections in order to take them into account when planning expenses.
6. On the Belarusian Exchange, commodity trading transactions are under the control of a special department, which minimizes the risks associated with trading. It is advisable to familiarize yourself with the methods of influencing counterparties who do not fulfill their obligations in full and on time before starting work.

7 steps to…

If you still want to move on to concrete actions, then you need to go through seven preparatory procedures for trading on the Belarusian Commodity Exchange.

1. Determine your status. You can personally participate in the auction as a visitor or broker. Visitor status gives you the right to trade for yourself. The status of a broker adds to the rights of the visitor the right to provide intermediary services as a professional.
2. Having decided on the first position, a legal entity is a participant in the trades of the Belarusianexchanges on the commodity platform - represents traders, i.e. employees of their company, who will be granted the right on behalf of the visitor to participate in trading and conclude transactions.
3. Since the peculiarity of the ETP is transactions through Internet services, it is required to go through the procedure for obtaining a digital signature, which has the force of a person's handwritten signature.
4. Provide the necessary equipment, a computer (or several) with the required characteristics and appropriate software. A specialized program for direct participation in transactions on the Belarusian Exchange with a trading platform is provided free of charge.
5. Submit for consideration the documents necessary for accreditation, after the approval of which a contract for exchange services is signed between the exchange and the applicant organization. It defines all financial, legal, technical and procedural relationships between the parties.
6. Carefully study the structure and content of the personal section (trader's virtual cabinet) and instructions for working.
7. Get familiar with the structure of the exchange website and the information on it so that you can quickly find what you need during the trading process.

Now you can start the process of developing your business, i.e. buying and selling goods in the area of interest.