In the recent years it had become common practice to use exchange broker services at BUCE electronic trade platform.
According to the BUCE regulations, all interested exchange trade participants can use intermediary services, concerning preparation and participation in auctions. Such services are rendered by professional participants of exchange trade – exchange brokers.
Exchange broker – exchange trade participant which provides its clients intermediary services, concerning conclusion of contracts at BUCE on 3 schemes: from the name of the client at client's expense, from the name of the client at broker's expense, from the name of the broker at client's expense.
In order to become exchange broker, company should meet certain requirements:
- conduction of business activity as legal entity or individual entrepreneur at the respective segment of commodity market for at least 3 years,
- stable financial status,
- professional staff (at least 2 persons have to be registered as exchange traders).
Trader – person representing exchange broker and empowered to conclude contracts at BUCE from its name.