Additional options for short-term market participants trading natural gas in the GTS

From February 14, 2022, the Ukrainian Energy Exchange expands the scope of using a qualified electronic signature for participants on the short-term natural gas market trading on the trading platform using software product Energy Trading Platform software product and the clearing system in the GTS.

From now on, on the basis of the exchange transaction concluded on the trading platform, the use of a qualified electronic signature for signing a sale and purchase contract also applies to the act of acceptance and transfer of natural gas, which is formed by the clearing system simultaneously with the corresponding contract and is considered signed by the parties at the time of its conclusion.

In the event that the gas transmission system operator, as a result of processing trade notifications received from the Exchange, does not agree on the transfer of natural gas between trading participants for the reasons specified in the Gas Transmission System Code, and provides the relevant notification to the Exchange, the sale and purchase contract is considered terminated, and the corresponding act of acceptance and transfer of natural gas is considered cancelled.

UEEX is constantly striving to provide market participants with favorable conditions for efficient trading on the natural gas market. With the entry of the TSO on the short-term market in order to balance, activity on the short-term market increased.More and more sellers and buyers of gas are interested in trading on the short-term UEEX market. The extension of the validity of a qualified electronic signature to the acceptance certificate simplifies the execution of trade transactions for participants,” - said O. Kovalenko, CEO of UEEX.