automated workplace of an exchange trader – the workplace from which the exchange participant accesses the electronic trading system;
electronic trading system administrator (ETS administrator) – a representative of the Exchange authorized to monitor compliance with the rules and internal documents of the Exchange during the organization and conduct of exchange trading, administration and control of the operational trading schedule in the ETS with the possibility, in accordance with the procedure and on the terms specified in the Rules of the Ukrainian Energy Exchange Limited Liability Company (hereinafter referred to as the Rules), suspension/termination of exchange trading, as well as its extension, granting/suspending/terminating the admission of exchange trading participants and the admission/suspension/cancellation of exchange goods for trading on the ETS, monitoring and control during the submission/withdrawal (cancellation)/amendment of applications by trading participants (including in the form of positions), verifying the adequacy of collateral, monitoring the signing of exchange certificates/exchange contracts/derivative contracts/transactions relating to derivative contracts by trading participants using electronic signatures, signing exchange certificates and exchange trading protocols on behalf of the Exchange, detecting signs of manipulation and other abuses on the Exchange, as well as performing other actions in accordance with the Rules and internal documents of the Exchange; The exchange may specify other documents that the ETS administrator is authorized to sign, as well as other powers of the ETS administrator;
analogue of a handwritten signature (AHS) – a type of electronic signature that is an electronic analogue of the handwritten signature of a trading participant, a person who has been granted access to the electronic trading system (systems) and is used by such a participant (such a person) to log into the ETS and allows such a participant (such a person) to be identified, and also establish the absence of distortion of information in the documents of such a participant (such a person) in the electronic trading system, which are considered to be signed by such a participant in the trading (such a person) with an electronic signature;
underlying asset of a derivative contract (underlying asset) – this is an asset (products and other items defined by generic characteristics), including those admitted to trading on the Exchange, as well as property defined as the underlying asset of a derivative contract in accordance with the regulatory acts of the NSSMC;
exchange trading – the Exchange's activities in organizing trade in products on commodity exchanges, organizing the conclusion of derivative contracts on commodity exchanges, aimed at organizing and conducting exchange trading, ensuring the centralized conclusion and/or centralized execution of exchange agreements, (exchange contracts) for exchange commodities, derivative contracts that are not financial instruments, transactions involving them, the execution of exchange transactions by the Exchange and/or exchange trading participants, the performance of other actions on the Exchange involving exchange commodities, trading in which, in accordance with the law, is carried out exclusively on organized commodity markets, resolving disputes on these issues and performing other actions on the Exchange in accordance with the Rules, internal documents of the Exchange, and the legislation of Ukraine;
exchange quotation (quotation) – a set of methods and rules (methodology) that enable the determination of average objective prices for a specific exchange commodity (group of exchange commodities) based on the prices of exchange transactions or on other grounds for calculating the exchange quotation price (exchange rate) of such a commodity (group of exchange commodities) and other price indicators, indices;
an exchange place – the right of a person (legal entity/individual entrepreneur) to conduct exchange transactions on the Exchange in their own interests and/or in the interests of third parties (clients), which is acquired by permanent and non-permanent members of the Exchange in the manner and procedure specified in the Exchange's Charter, The Rules and Regulation on the Lease of Exchange Places on the Commodity Exchange - Ukrainian Energy Exchange Limited Liability Company (hereinafter referred to as the Regulation), taking into account the specifics defined by the internal documents of the Exchange for a particular section of the Exchange or for a particular exchange commodity (group of exchange commodities);
exchange certificate – a document which, in cases provided for by the Rules and/or internal documents of the Exchange, certifies the conclusion of an exchange transaction (transactions) by exchange trading participants and is registered on the Exchange; in certain cases, it may be referred to as an “auction certificate”;
exchange bulletin – an Exchange document containing information about orders in the form of positions placed on exchange trading for the sale, purchase, delivery or exchange of an exchange-traded product (other than derivative contracts that are not financial instruments) and its characteristics, and may contain information about derivative contracts that are not financial instruments);
exchange brokers (brokers) – individuals authorized by Exchange members (permanent or non-permanent, accredited by the Exchange in accordance with the Regulation and/or other internal documents of the Exchange) or other trading participants (who are not members of the Exchange) in cases provided for by the internal documents of the Exchange, whose duties consist in executing orders of the persons they represent for the purpose of conducting exchange and over-the-counter transactions on the Exchange;
bulletin of weighted average prices – an internal document of the Exchange containing information on the quantitative characteristics of the exchange commodity that was offered and sold at exchange trading, the minimum and maximum prices formed at exchange trading, and the weighted average price formed as a result of exchange trading, as well as the total volume and value of the exchange commodity sold; the bulletin may also contain other information, in particular regarding other characteristics of the exchange commodity (such as the basis of delivery (according to Incoterms or other conditions specified in the Exchange's internal documents), the type of sales schedule (e.g., for electricity), etc.);
internal dociments of the Exchange – internal regulations of the Exchange, which are official documents of the Exchange that, in accordance with the Rules, legislation on commodity exchanges and organized commodity markets, regulate the organization and conduct of exchange trading on the Exchange, the organization of the conclusion of derivative contracts that are not financial instruments, and transactions related to them, conditions for admission to exchange trading, conditions and mechanisms for ensuring settlements (in cases where collateral is directly received and accounted for by the Exchange in accordance with the requirements set forth in laws other than the Law of Ukraine “On Commodity Exchanges” and/or regulatory acts adopted for their implementation) and other issues related to the organization of exchange trading in certain sections of the Exchange or for certain exchange commodities (groups of exchange commodities), as well as regulating relations within the structure of the Exchange and between the Exchange and trading participants (their clients), banks designated by the Exchange, delivery operators, and other persons designated by the internal documents of the Exchange; in particular, such internal documents of the Exchange include the Rules, exchange trading rules, and regulations for the organization and conduct of exchange trading, including other actions on the Exchange with respect to exchange commodities, trading in which, in accordance with the law, is carried out exclusively on organized commodity markets, in certain sections of the Exchange, or for certain exchange commodities (group of exchange commodities); internal documents of the Exchange may consist of one or several documents;
guarantee fee – funds deposited into the current account of the Clearing Institution by participants in exchange trading for the purpose of guaranteeing the performance of exchange agreements/exchange contracts, the conclusion and/or performance of derivative contracts that are not financial instruments/transactions relating to such derivative contracts; in exceptional cases specified by laws other than the Law of Ukraine “On Commodity Exchanges” and/or regulatory acts adopted for their implementation and the Rules, guarantee fees may be paid into the Exchange's account;
guarantee security of the tender participant for settlements (financial security for settlements) – funds that are preliminarily transferred by a participant in exchange trading to the escrow account of such a trading participant and recorded in analytical accounts (analytical accounts for financial security for settlements) in the clearing institution's clearing accounting system, and which are intended for the proper performance of obligations under exchange agreements/contracts/derivative contracts;
derivative contract that is not a financial instrument (derivative contract) – it is a contract whose terms impose an obligation on one or both parties to the contract in respect of the underlying asset; derivative contracts concluded on the Exchange are deliverable if there is an obligation to transfer the underlying asset; depending on the type of underlying asset, derivative contracts concluded on the Exchange are commodity or other derivative contracts; derivative contracts concluded on the Exchange are not financial instruments;
electronic trading system (electronic trading systems) (ETS) – the Energy Trading Platform software product (ETP), the Exchange Electronic Trading System software product (PP BETS), and other electronic trading systems used by the Exchange to organize and conduct exchange trading, including to enable trading participants to perform other actions on the Exchange with respect to exchange commodities, the trading of which, in accordance with the law, is carried out exclusively on organized commodity markets, as well as to conclude and/or execute derivative contracts and transactions related thereto;
Electronic signature – an electronic signature in accordance with the current legislation of Ukraine in the field of electronic identification and electronic trust services is provided in the ETS using a qualified electronic signature (hereinafter referred to as QES) or an advanced electronic signature (hereinafter referred to as AES), or other electronic signatures specified by the Exchange's internal documents (AHS, Operational Key, etc.); in some sections, only QES/AES or only AHS may be used;
purchase order – submitted by a participant in exchange trading in accordance with the Rules and internal documents of the Exchange, an electronic document in the form established by the Exchange, containing an unconditional commercial offer (bid) to purchase an exchange commodity and conclude an exchange transaction, conclude a derivative contract/conclude a transaction on a derivative contract in accordance with the terms of the submitted application;
sales order – submitted by a participant in exchange trading in accordance with the Rules and internal documents of the Exchange, an electronic document in the form established by the Exchange, containing an unconditional commercial offer (offer) for the sale of an exchange product and the conclusion of an exchange agreement, the conclusion of a derivative contract/the conclusion of a transaction regarding a derivative contract in accordance with the terms of the submitted application;
Clearing institution – a legal entity that carries out clearing activities to determine obligations on the basis of a license to carry out professional activities on the capital markets - clearing activities: clearing activities to determine obligations, issued by the National Securities and Stock Market Commission and with which the Exchange cooperates in accordance with a clearing agreement, and with a participant in exchange trading (clearing participant) - a clearing service agreement, provides clearing services, including clearing the rights and obligations of participants in exchange trading (clearing participants), which have arisen (will arise) in connection with the conclusion (completion) of exchange agreements/exchange contracts/derivative contracts/transactions regarding derivative contracts on the Exchange by an exchange trading participant (clearing participant);
commission fee – fee for services provided by the Exchange, including for registration of exchange agreements, derivative contracts/transactions related to them (exchange fee, registration fee);
quotation commission – a special unit of the Exchange, created from among the Exchange employees and approved by the decision of the Exchange Committee to determine (and maintain in an up-to-date state and compliance with market conditions) the methodology(ies) of exchange quotation and to ensure (establish) the level of prices for exchange goods sold on the Exchange and subject to quotation, and operates on the basis of the "Regulation on the Quotation Commission";
quoted price – price determined by the quotation commission by analyzing the prices of exchange transactions, derivative contracts, bid prices, and ask prices based on the criteria and calculation methods established by the Exchange;
price step – the amount by which the price per unit or per lot/package of lots of an exchange commodity changes (decreases/increases) during exchange trading, and which is determined in the internal documents of the Exchange that regulate exchange trading in the sections of the Exchange;
lot – the minimum indivisible quantity (volume) of an exchange-traded product that can be offered for sale/purchase/contracting; the value of the quantity (volume) of the exchange product, including the underlying asset of derivative contracts, in the sale order/purchase order must be a multiple of the size of 1 lot; internal documents of the Exchange may establish cases when this requirement may not be met;
manipulation – unlawful actions or influence of a participant in exchange trading on the price of an exchange product (derivative contract), in their own interests or the interests of third parties, as a result of which the purchase or sale of this exchange product, the conclusion of a derivative contract takes place at prices other than those that would exist in the absence of such unlawful actions or influence, as well as actions provided for in Article 148 of the Law of Ukraine "On Capital Markets and Organized Commodity Markets";
emergency situation in the Exchange's operations – any events and/or circumstances that, in the opinion of the Exchange's management bodies or an authorized person, will temporarily or indefinitely make it impossible or significantly complicate the performance by the Exchange of the functions assigned to it in accordance with the Rules; such events/circumstances may include force majeure circumstances and other circumstances, including those that, in the opinion of the Exchange's management bodies or an authorized person, create or may create a threat to the life and health of Exchange employees, or complicate the performance of the functions assigned to it by the Exchange;
non-permanent member of the Exchange – a legal entity or individual entrepreneur who has acquired the status of a non-permanent member of the Exchange and the right to conduct exchange transactions on the Exchange by lease an exchange place from a permanent member of the Exchange;
delivery operator – a legal entity that, in accordance with the law, stores and/or ensures the transportation (transfer) of an asset admitted to trading / the underlying asset of a derivative contract that is an exchange-traded commodity, and/or agrees on the transfer/records the transfer of such an asset (such as a gas transportation system operator, gas storage operator, transmission system operator, etc.);
position for purchase/position for sale – a purchase order/sale order of a trading participant initiating trading using the unilateral auction technology (hereinafter referred to as the auction initiator) in accordance with the Rules and internal documents of the Exchange and containing an unconditional commercial proposal (offer) for the purchase/sale of an exchange product, conclusion of a derivative contract; the position combines homogeneous and interchangeable exchange-traded goods / derivative contracts by: type of goods / underlying asset (in accordance with established standards and technical regulations in the field of technical regulation and standardization), as well as by price, coefficient (premium/discount to the price index determined by the initiator of the auction or the Exchange or by legislation) per unit of goods / underlying asset of the derivative contract, and other details and conditions determined by the internal documents of the Exchange;
permanent members of the Exchange – founders of the Exchange and legal entities or individual entrepreneurs admitted to its membership in accordance with the Exchange Charter (hereinafter referred to as Exchange Participants), who acquire the status of a permanent member of the Exchange after paying the entrance fee and receiving exchange places in the number determined in accordance with the Charter and in compliance with the proportionality of the total shares of the relevant permanent member in the authorized capital of the Exchange; permanent members of the Exchange, in accordance with the procedure and on the terms and conditions specified in the internal documents of the Exchange, have the right to lease exchange places to non-permanent members of the Exchange;
software and technical failure – unplanned disruption of the Exchange's activities, leading to an interruption in the provision of services by the Exchange, caused by the unavailability of software and hardware complexes through which professional activities are carried out on capital markets and organized commodity markets;
website of the Ukrainian Energy Exchange Limited Liability Company (official website of the Exchange) – the official website of the Exchange on the Internet at: www.ueex.com.ua;
section – a specialized area of professional activity on the organized commodity markets of the Exchange, within which exchange trading in a certain group of exchange commodities is carried out;
ETS information collection, processing and distribution system – ETS subsystem, which is a set of software, databases and computing resources for collecting and archiving information about the progress of trading, submitted applications, exchange trading participants, characteristics of the exchange product / derivative contract / underlying asset of the derivative contract, the price of the exchange product / derivative contract / underlying asset of the derivative contract and its dynamics; the collected information is processed and published in the form of a bulletin of weighted average prices or in another form in accordance with the internal documents of the Exchange and the legislation of Ukraine;
Price of exchange commodity – the price at which the purchase and sale of an exchange product, including a derivative contract/underlying asset of a derivative contract, was carried out in a competitive manner and the corresponding exchange agreement (exchange contract)/derivative contract/transction regarding a derivative contract was concluded and registered on the Exchange;
price of the underlying asset (under a derivative contract) – the price at which the underlying asset was purchased and sold and the corresponding derivative contract was concluded and registered on the Exchange;
Exchange members – permanent members of the Exchange and non-permanent members of the Exchange.
