Natural gas
LLC "UEEX" trades in natural gas in accordance with the laws that determine the legal conditions for the creation and operation of commodity exchanges, the Law of Ukraine "On the Natural Gas Market" and the GTS Code.
LLC "UEEX" trades in natural gas in the context of the following markets:
LLC "UEEX" is a trading platform operator in the understanding of the GTS Code fully complies with the requirements of the GTS Code (in particular, but not exclusively, Chapter 4, Section XIV). Trading platform LLC "UEEX" provides trade in short-term standardized products on a gas day and Day -Ahead basis seven days a week.
The trading platform of the exchange is integrated with the Information Platform of the GTS Operator (paragraph five of clause 1 of Chapter 4 of Section XIV) in terms of obtaining up-to-date information about active customers of transportation services, providing trade notifications for the alienation and purchase of natural gas and receiving information from the GTS Operator on the results of their processing ( paragraph two of clause 9 of Chapter 2 of Section XIV of the GTS Code).The trading platform interacts with the banking system to ensure settlements for concluded transactions using escrow accounts (paragraph four of clause 1 of Chapter 4 of Section XIV of the GTS Code).
Trades take place in the PP "Energy Trading Platform" (PP ETP) in the form of a bilateral counter auction (Continuous trading).
The way daily balancing works on the UEEX trading platform - see our animated video. An instructional video on working with the trading platform in the short-term natural gas market can be viewed by the link.
Trading platform LLC "UEEX" | |||
|---|---|---|---|
Time frame | Within-Day (WD) | ||
Trading products | Short-term standardized product (title product in the sense of BAL NC) | ||
Product | Natural gas | } |
|
-which is maintained on the customer’s escrow account | } | in storage in UGS | |
Delivery point | VTP | ||
Trading hours | 7 days a week, non-stop trading in accordance with the schedule of trading and clearing sessions | ||
Data transfer format | Trade notifications to the GTS Operator/UGS Operator | ||
Trading in non-standardized natural gas products located on the territory of Ukraine, as well as at a point on the border with neighboring European states (for the import regime), is carried out in the Software Product "Exchange Electronic Trading System" (PP BETS) with a natural gas delivery period in a certain month or on other individual terms. Basis (transfer point): VTP (virtual trading point), GMU (commercial natural gas metering unit), UGS (underground gas storage) or points on the borders with neighboring states.
For buyers of natural gas with the basis of "commercial natural gas metering unit" on the UEEX, the following functionality is provided: the company can either independently form its own position for the purchase of gas or apply for the positions of other initiators, according to which the basis of "commercial natural gas metering node" is established.
We draw attention to the peculiarity of the documentary support of applications in the form of a position: if the position is formed with the basis of a "virtual trading point" (VTP), "underground gas storage" (UGS) or with the selection of a point on the border, a natural gas purchase and sale agreement is attached to it. However, if the basis of the position is a "commercial natural gas metering unit", a natural gas supply agreement is attached to the application in the form of a position.
Trading in standardized natural gas products stored in underground storage facilities under the customs regime "customs warehouse" and stored in underground storage facilities under the customs regime "customs warehouse" under the conditions of simultaneous use of capacity with restrictions ("short-haul") is carried out in the Software Product "Exchange Electronic Trading System" in the version "Underground Storage Facilities - Customs Warehouse" with a transfer point in the underground storage facility and a delivery period of 5 calendar days after the trading day, provided that the payment terms are met.
A brief algorithm for gas trading in UGS under the customs regime "bonded warehouse" can be viewed in the presentation. Instructions for creating an application for participation in exchange trading sessions in the information platform of the gas storage operator of Ukraine (implementation of the Voluntary Refusal mechanism) can be found at the link.
The auction form is a one-sided auction with the possibility of placing counter-bids. Trading is conducted on business days within open trading sessions. The trading session opens when the first bid in the form of a position is submitted by the auction initiator at a date and time previously determined by him and agreed with the exchange.
