2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Belarusian Universal Commodity Exchange, located in Minsk, is the only centralized trading platform of the republic. Over the course of 12 years of operation, it has shown a steady increase in the number of registered participants.
Branches of the exchange operate in all regional centers of Belarus. The representative office of this trading platform is open in the Russian Federation.
Purpose
The main goal of founding the Belarusian Universal Commodity Exchange was to create a single organized wholesale market for products of strategic importance for the economy of the republic. The management of the trading platform seeks to establish and develop partnerships with foreign counterparties, primarily with commercial companies from countries located in the post-Soviet space. The Belarusian Universal Commodity Exchange is a pilot project aimed at developing a mechanismfunctioning of the centralized market.
Activities
The first large-scale electronic trading platform of the republic considers it its task to improve the transparent procedure for concluding transactions, create he althy competition and ensure free pricing based on real demand and supply.
Belarusian Universal Commodity Exchange provides the general public with reliable information on the current cost of various types of raw materials and industrial products. In addition, it provides statistical data that reflects the dynamics of prices and volumes of transactions.
Wide selection
Belarusian universal commodity exchange has a number of features. The main unique features of the trading platform are a wide range of products, a flexible approach to the terms of fulfillment of obligations by buyers and sellers, as well as a focus on participants representing real business. At present, the practice of using strictly standardized contracts is widespread on world exchanges. This means that only well-known types of goods with precise and unchanging quality characteristics are allowed to bid. All parameters are carefully fixed in contract specifications. This order naturally leads to a significant limitation of the range of goods.
However, anyelectronic marketplace. The Belarusian Universal Commodity Exchange has chosen a different path. It allows the placing of bids for the purchase and sale of material assets, which by world standards are considered unsuitable for organized trading. Examples include antiques and works of art.
Physical deliveries
Other important features of the exchange are the absence of speculative capital and the active participation of small and medium-sized businesses. There is a growing tendency in the world to conclude transactions on trading floors not for the purpose of buying or selling physical goods, but only for profiting from changes in quotations. According to statistics, 99% of contracts on exchanges do not end with real deliveries of tangible assets. There are so-called financial futures that do not involve the shipment of cash goods.
Belarusian Stock Exchange is an exception to the global trend. It provides for various options for the supply of goods: immediate and delayed. However, the exchange does not create opportunities for financial speculation in its purest form. This feature of the marketplace attracts small and medium-sized businesses that are looking for an affordable market.
Registration of participants
JSC "Belarusian Universal Commodity Exchange" is open to work with legal entities and individuals: both residents of the republic and representatives of other countries. You can choose the status of directbidder or carry out transactions through a broker. Those wishing to conclude contracts directly must provide a package of documents for accreditation on the exchange and receive an electronic digital signature that has the same legal force as a handwritten one. The Belarusian trading platform makes it possible to conduct transactions from anywhere in the world via the Internet. The Exchange is developing an electronic document management system.
Organization of deals
The main task of the intermediary is to ensure that the seller and the buyer fulfill their obligations under the contract. The Belarusian Exchange uses a simple and proven system that guarantees timely payment and shipment of goods. In accordance with the rules, both parties to the transaction deposit certain amounts of money into the accounts of the trading platform. The exchange blocks these funds, which become collateral, ensuring the full and timely fulfillment of the terms of the contract by both the seller and the buyer.
After receiving documentary confirmation of payment and delivery, the organizer of the auction unblocks the cash deposits and returns them to their owners. In case of failure to fulfill obligations under the contract, the guarantee amount may be transferred to the injured party or withheld in favor of the exchange. In addition, sanctions are provided for violators in the form of fines and termination of admission to trading. Conflict situations between sellers and buyers are considered by the arbitration commission of the Belarusian Universal Commodity Exchange. She's profitablediffers from ordinary civil courts in the short timeframes for proceedings.
Main Industries
Purchases at the Belarusian Universal Commodity Exchange are carried out in the interests of both domestic and foreign markets. The turnover of the trading platform is formed mainly due to three industries: metallurgy, the agricultural sector and forestry. For each of these groups of goods, transactions totaling several hundred million euros are made annually. The palm in terms of trading volume belongs to the products of the metallurgical industry. This is due to the high demand for this raw material in the domestic market of the republic. The annual needs of the giants of the Belarusian engineering industry amount to hundreds of thousands of tons of ferrous and non-ferrous metals. Large enterprises in the heavy industry are key clients of the commodity exchange.
The agricultural sector and forestry play an important role in the economy of Belarus. The exchange serves as the main platform for the sale of products of these industries. The organized Belarusian commodity market is characterized by systematic development. The exchange is gradually establishing business contacts with foreign partners and is integrating into global economic processes.
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