Natural gas

UCH provides clearing of rights and obligations, arising as a result of exchange activities regarding to the Regulations of exchange trading in the short-term natural gas market using the trading platform of the commodity exchange - Ukrainian Energy Exchange Limited Liability Company, Rules for clearing activities of Ukrainian Clearing House Limited Liability Company, Regulations of exchange trading in the short-term natural gas market using the trading platform of the commodity exchange - Ukrainian Energy Exchange Limited Liability Company, Rules for clearing activities of Ukrainian Clearing House Limited Liability Company, Regulations for clearing activities - Ukrainian Clearing House Limited Liability Company, RATES (AMOUNTS) and PROCEDURE for Distribution of the Guarantee fees (Margin) of the clearing institution - Ukrainian Clearing House Limited Liability Company.

Schedule of clearing sessions conduction on natural gas exchange trading on the short-term market using the trading platform of commodity exchange Ukrainian Energy Exchange

Settlement scheme for exchange trading on the short-term natural gas market

1. Clearing Members (buyers and sellers) to ensure proper fulfillment of obligations under the concluded exchange agreements and/or concluded purchase and sale agreements shall transfer to the current account of the UCH in JSC Oschadbank a guarantee fee of 3% and a commission fee in accordance with Tariffs for the services of the Commodity Exchange - Ukrainian Energy Exchange Limited Liability Company (GF).
2. The Clearing Members (buyers) shall transfer the funds for the Guarantee fee (GF) to their escrow account at JSC Oschadbank in the amount of not less than 100% of the payment for the natural gas (including VAT) they intend to purchase. UCH shall account for the GF and/or GC in the clearing account of the clearing member in the escrow account.
3. UCH shall receive information from JSC Oschadbank on the balances on the escrow accounts of the Clearing Member (Buyer).
4. UCH shall exchange with the Exchange information on the amount of cash of the GC and/or the GF for settlement to the escrow account.
5. Clearing Members submit sell orders and buy orders.
6. At the moment of admission of the order to trading on the clearing accounts of the trading (clearing) participant, UCH shall block the funds in the amount of GC and GF, as well as the amount of the Exchange's commission fee.
7. After the end of the trading session, Exchange shall provide UCH with the register of concluded exchange transactions and information on the natural gas purchase and sale contracts formed for signing in electronic form.
8. After the conclusion of an exchange transaction, the commission fee shall be deducted from the clearing accounts (for guarantee fees) of the seller and the buyer in the clearing accounting system and transferred by the UCH to the Exchange's bank account.
9. The parties sign a purchase and sale agreement.
10. Exchange shall provide UCH with a register of concluded natural gas purchase and sale agreements and information on exchange transactions for which the relevant agreements have not been signed.
11. After signing the sale and purchase agreement, the funds of the GF shall be unblocked and made available to such clearing member for withdrawal (return) and/or further use by it for participation in other exchange trades.
12. After signing the purchase and sale agreements, based on the information of UCH on the scope of the clearing member's rights and obligations for supply of natural gas, Exchange shall send the relevant trade notifications for the alienation and acquisition of natural gas to the UGS/GTS Operator.
13. UGS/GTS Operator shall notify the Exchange of confirmation or non-confirmation of trade notifications.
14. Exchange shall inform the UGS/GTS Operator of confirmation or non-confirmation of trade notifications by the UCH.
UCH shall keep appropriate records of the rights and obligations of trading participants related to confirmation/non-confirmation of trade notifications.
15. Accounting for the transfer by the UGS/GTS Operator from the balancing portfolio of the seller to the balancing portfolio of the buyer.
16. UCH shall provide JSC Oschadbank with a register of orders/refunds.

In case the clearing member fails to sign the purchase and sale agreement or the UGS/GTS operator fails to confirm trade notifications, UCH shall take risk management measures provided for in the Regulations on Clearing Activities of Ukrainian Clearing House Limited Liability Company and terminate the accounting of rights and obligations under the relevant exchange transaction (agreement).