Non-anonymous exchange transactions

Timber products

The exchange trading participants may execute non-anonymous exchange transactions at prices equal to, or higher than, exchange quotations emerging upon completion of the main trading periods of the current trade session for sales of sawn timber (HS Code 4407).

The schedule of exchange auctions for sawn timber products (HS Code 4407) eligible for submission of non-anonymous sell offers and execution of non-anonymous exchange transactions shall be published in the Timber Products page of the Exchange website.

The total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions shall be determined upon completion of the main trading periods of the current trade session, such volume not to exceed the triple volume of sawn timber products sold during the main trading periods of the current trade session (the “total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions”).

The information on the exchange quotations determined upon completion of the main trading periods of the current trade session for export sales of sawn timber products and information on the total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions shall be published in the Quotations page of the Exchange website at or before 10:00 a.m. on the business day following the day of completion of the main trading periods of the current trade session for export sales of sawn timber products.

Non-anonymous sell offers may be submitted by the sellers during the period that starts at 10:00 a.m. on the business day following the completion of the main trading periods of the current trade session, and ends at 04:00 p.m. on the business day preceding the day on which the next exchange auction for export sales of sawn timber products (HS Code 4407) is to be conducted in accordance with the schedule of exchange auctions, with the exception of special trade sessions.

The non-anonymous sell offer may be submitted by the seller regardless of whether he or she participated in the main trading periods of the current trade session.

As of March 19, 2024, the non-anonymous sell offer shall be submitted by the seller with the application of its electronic digital signature through the Internet using WoodBidLoader, the program module designed to submit offers to exchange auctions conducted in the Timber Products Section, with mandatory selection of the buyer from the personalized list of buyer counterparties.

If the buyer counterparty is not present in the personalized list, the seller shall submit information on such buyer counterparty (full name, UNP, Exchange registration number) to the e-mail addresses of employees of the Timber Products Trading Division (o.makarevich@butb.by, v.domnenkov@butb.by) for inclusion in the list of buyers.

The non-anonymous commodity sell offers submitted by the exchange trading participants shall be reviewed by the Timber Products Trading Division, and, subject to their compliance with the requirements stipulated by the Exchange and the absence of other reasons for refusal to accept such offers, shall be admitted to participation in the non-anonymous transactions execution period of the current trade session in the ForeignWood program module on the first-come first-served basis.

The total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions shall be decreasing as the sellers submit non-anonymous sell offers. The non-anonymous sell offer submitted earlier than all other non-anonymous sell offers shall be assigned priority status.

The grounds for refusal of the Exchange to accept a non-anonymous sell offer shall be as follows:

non-anonymous sell offers are submitted upon expiry of the established submission deadline;
the seller and the buyer specified in the non-anonymous sell offer are denied (not granted) access to the exchange auction;
the buyer specified in the non-anonymous sell offer has no accreditation;
the information on the commodity and on delivery terms does not match the terms of the exchange quotation as determined upon completion of the main trading periods of the current trade session for export sales of sawn timber products;
the volume of the commodity specified in the non-anonymous sell offer exceeds the total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions;
the exchange deposit is not provided in the following amount:

0.4% of the value of the commodity to be sold (including VAT), but at least BYN 50 – for sellers who are admitted to participation in the auctions upon provision of the exchange deposit to secure performance of obligations under the exchange transactions;
10 (ten) base values – for sellers who are admitted to participation in the auctions upon provision of the exchange deposit to secure performance of the obligation to pay the exchange fee;
0.2% of the value of the commodity to be sold, but at least EUR 200 / USD 250 / RUB 18,000 / CNY 1,600 – for buyers who are admitted to participation in the auctions upon provision of the exchange deposit to secure performance of obligations under the exchange transactions;
EUR 450 / USD 500 / RUB 40,000 / CNY 3,500 / BYN 1,400 – for buyers who are admitted to participation in the auctions upon provision of the exchange deposit to secure performance of the obligation to pay the exchange fee.

The exchange deposit shall have been credited to the account of the Exchange at least 2 (two) business days before the date of submission of the non-anonymous sell offer.

the non-anonymous sell offer contains unreliable or inaccurate information on the commodity.

The status check with respect to the submitted non-anonymous sell offer (approved/not approved/not reviewed) shall be performed by the exchange trading participants during the non-anonymous transactions execution period of the current trade session in the ForeignWood program module.

Upon completion of the approval procedure in the ForeignWood program module, the seller and the buyer specified in the non-anonymous sell offer shall be served, through their personal account interfaces, notices of approval/non-approval of the submitted non-anonymous sell offer, with an indication of the reason for rejection of the non-anonymous sell offer that is not approved.

If the non-anonymous sell offer is rejected or not approved by the Exchange, such non-anonymous sell offer may be resubmitted after the reasons for its rejection are eliminated using the WoodBidLoader offers submission program module, provided that the period of time allocated for the submission of non-anonymous sell offers has not expired, and the total volume of sawn timber products available to the sellers for execution of non-anonymous exchange transactions has not been exceeded.

If the non-anonymous sell offer is accepted and approved by the Exchange, the seller and the buyer specified in the non-anonymous sell offer shall draw and sign the exchange contract and present it to the Exchange for registration in the “Electronic Documents” tab of the personal account interface.

The exchange contract formalizing the terms of the non-anonymous sell offer may be drawn by any of its parties.

The exchange contract shall be signed with the electronic digital signatures of the parties, and presented to the Exchange for registration by 05:50 p.m. on the business day preceding the day on which the next exchange auction for export sales of sawn timber products (HS Code 4407) is to be conducted in accordance with the schedule of exchange auctions, with the exception of special trade sessions. If the day on which the exchange contract is to be drawn, signed by the parties, and presented for registration falls on Friday or the day preceding a holiday that is declared a non-business day in accordance with applicable legislation of the Republic of Belarus, the exchange contract formalizing the terms of the non-anonymous sell offer shall be drawn, signed by the parties, and presented to the Exchange for registration at or before 04:50 p.m. on such day.

If the buyer who is a non-resident of the Republic of Belarus is accredited as an exchange auctions visitor for execution of non-anonymous exchange transactions, the exchange contract between the seller and the buyer specified in the non-anonymous sell offer shall be executed by creation of a single text document, or by exchange of text documents, such document(s) to be signed in person by the authorized representatives of the parties to the exchange contract (the trader of the exchange trading participant, or the executive officer whose details were received by the Exchange at the time of accreditation (verification) of the exchange trading participant, or (with respect to the exchange broker's client) the trader of the exchange broker), or by using other communication equipment or technical devices (by exchange of signed scanned copies of the exchange contract). In such case, the exchange contract shall be presented to the Exchange for registration by the seller with the use of the seller's electronic digital signature.

The exchange contract presented in accordance with the established procedure shall meet the following conditions:

the exchange contract is presented within the established period;
the information on the commodity and its delivery terms specified in the presented exchange contract is consistent with the information on the commodity and its delivery terms specified in the non-anonymous exchange sell offer accepted by the Exchange in accordance with the established procedure, and with the terms of the exchange quotation determined upon completion of the main trading periods of the current trade session for export sales of sawn timber products;
the price and volume of the commodity are specified with a breakdown by the name of the commodity and its characteristics as per exchange quotations.

If the exchange contract meets the conditions stipulated by the Exchange and complies with the requirements of Regulations on Exchange Auctions in the Timber Products Section, the Exchange shall register the exchange contract within two business days from the date of its submission for registration. Registration of the exchange contract shall not be performed upon expiry of the above period.

The non-anonymous exchange transaction shall be deemed to have been registered by the Exchange as of the time of registration by the Exchange of the contract formalizing the terms of such non-anonymous exchange transaction.

If the exchange contract fails to meet the established conditions, the Exchange shall refuse to register the non-anonymous exchange transaction formalized by such exchange contract, specifying the reason for such refusal.

If the Exchange refuses to register the exchange contract formalizing the terms of non-anonymous exchange transaction, such exchange contract may, upon elimination of the reasons for such rejection, be resubmitted to the Exchange for registration, provided that the period of time allocated for the drawing and signing of the exchange contract has not expired.

As of January 1, 2025, the rate of the exchange fee shall be set at 0.2% of the amount of the completed non-anonymous exchange transaction for the exchange trading participants selling or buying sawn timber (HS Code 4407) for export from the Republic of Belarus.

Contact Information

Olga Vyacheslavovna Makarevich, tel.:+375 (17) 309 37 64,
e-mail: o.makarevich@butb.by.

Vitaly Aleksandrovich Domnenkov, tel.: +375 (17) 309 37 65,

e-mail: v.domnenkov@butb.by.

Dairy Products

Exchange trading participants may execute non-anonymous exchange transactions in the course of the current trade session “Dairy Products with an Option to Execute Non-Anonymous Exchange Transactions (Export)” upon completion of the main trading period of the current trade session.

The schedule of exchange auctions for dairy products (export) eligible for submission of non-anonymous sell offers and execution of non-anonymous exchange transactions shall be published in the “Agricultural Products” page of the Exchange website.

Exchange auction participants may execute non-anonymous exchange transactions with the following basic exchange commodities:

milk and cream, condensed or with addition of sugar or other sweetening agents, in powder, granules, or other solid forms, with fat content of not more than 1.5%wt, in primary packages with a net weight of more than 2.5 kg (HS Code 0402 10);
milk and cream, condensed, in powder, granules, or other solid forms, with fat content of more than 1.5%wt, without addition of sugar or other sweetening agents, in primary packages with a net weight of more than 2.5 kg (HS Code 0402 21);
butter in primary packages with a net weight of more than 1 kg (HS Code 0405 10);
butter with fat content of more than 72% but less than 80% in primary packages with a net weight of more than 1 kg (HS Code 0405 20).

It is permitted to combine, in a mixed lot, basic exchange commodities with other dairy products admitted to exchange auctions conducted in the Agricultural Products Section.

The basic exchange commodities that a specific seller intends to sell in an exchange auction are offered by the seller during the main trading period in the form of lots where commodities are placed together by product type, grade, price, and terms of delivery (country of destination).

The volume of basic exchange commodities available for execution of non-anonymous exchange transactions is determined with respect to each seller and each basic commodity subject to delivery terms and other lot parameters, and may not exceed the threefold volume of basic commodities that was offered for sale by such seller during the main trading period of the current trade session. The offering of that volume by the seller signifies the seller's consent to execution of non-anonymous exchange transactions on the same terms as those quoted during the main trading period.

If a mixed lot combining assorted basic commodities is offered for sale during the main trading period, and the seller subsequently submits a non-anonymous sell offer where the seller adjusts the volume of one of the basic commodities comprising such mixed lot, the volume of the other basic commodity in such mixed lot is adjusted proportionally.

If a mixed lot combining a basic commodity with another dairy product admitted for trading in the Agricultural Products Section is offered for sale during the main trading period, and the seller subsequently submits a non-anonymous sell offer where the seller adjusts the volume of the basic commodity, then:

if the volume of the basic commodity is decreased, the volume of other dairy products in such lot can be preserved or decreased to a level not lower than that proportionally identical to the original proportion of such lot;
if the volume of the basic commodity is increased, the volume of other dairy products in such lot must be preserved or increased to any level regardless of the original proportion of such lot.
Exchange auction participants may execute non-anonymous exchange transactions at prices determined in accordance with the following procedure:
for basic exchange commodities:

at a price not lower than the exchange quotation determined with respect to basic exchange commodities by the end of the main trading period of the current trade session. The exchange quotation is published by the Exchange in the form of minimal and average-weighted prices for each commodity item, and is determined subject to the country of destination, delivery basis (including the point of destination (where necessary)), payment terms, and delivery periods of up to 3 months (inclusively). When executing non-anonymous exchange transactions, exchange trading participants use a price that is not lower than the minimum price for each commodity item on the relevant terms published in the exchange quotation;
at the price not lower than the price quoted during the main trading period (with a breakdown by lots) determined subject to the legislation in effect on the date of execution of the non-anonymous exchange transaction, if no exchange quotations are available for basic exchange commodities;
for other dairy products admitted to trading in the Agricultural Products Section, at the price not lower than the lowest of the prices quoted by a specific seller during the main trading period for specific dairy products, subject to the legislation in effect on that date.

Information on exchange quotations determined upon completion of the main trading period is published in the "Quotations" page of the website of the Exchange at or before 09:30 a.m. of the business day following the day of completion of the main trading period of the current trade session.

The non-anonymous sell offer may be submitted by the seller upon completion of the main trading period of the current trade session immediately after publication on the website of the Exchange of the exchange quotation determined upon completion of the main trading period in accordance with the procedure stipulated by Regulations on Exchange Auctions for Export Dairy Products with an Option to Execute Non-Anonymous Exchange Transactions until 04:00 p.m. of the business day preceding the day on which the next exchange auction for the relevant export commodity is to be held in accordance with the schedule of exchange auctions.

The parties of each non-anonymous exchange transaction are accredited exchange trading participants.

The non-anonymous sell offer may be submitted by a seller participating in the main trading period of the current trade session.

The terms of the non-anonymous sell offer are determined by the seller subject to the terms quoted by it with respect to a specific exchange commodity during the main trading period of the current trade session.

If a non-anonymous sell offer being submitted envisages the sale of the commodities to entities within commodity distribution networks, it is permitted to adjust payment periods, delivery periods, and payment terms quoted during the main trading period. For other non-anonymous sell offers being submitted, it is permitted to adjust payment and delivery periods quoted during the main trading period.

The non-anonymous sell offer shall be submitted by its entry in the Trading System Database through the Internet network using the program module for the submission of offers to the exchange auctions conducted in the Agricultural Products Section from the traders’ remote workstations with mandatory selection of the buyer from the personalized list of buyer counterparties.

If the buyer counterparty is not present in the personalized list, the seller shall submit information on such buyer counterparty (full name, UNP) to the e-mail addresses of employees of the Agricultural Products Trading Division (agro@butb.by, dairy@butb.by) for inclusion in the list of buyers.

The non-anonymous commodity sell offers submitted by the exchange trading participants shall be reviewed by the Agricultural Products Trading Division, and, subject to their compliance with the requirements stipulated by the Exchange and the absence of other reasons for refusal to accept such offers, shall be admitted to participation in the non-anonymous transactions execution period of the current trade session in the AgriTrader program module.

The grounds for refusal of the Exchange to accept a non-anonymous sell offer shall be as follows:

the buyer specified in the non-anonymous sell offer in the capacity of the exchange auctions visitor and/or the exchange broker has no accreditation;
the seller and/or the buyer specified in the non-anonymous sell offer is denied (not granted) access to the exchange auction;
non-anonymous sell offers are submitted in violation of the established procedure and upon expiry of the established submission deadline;

The status check with respect to the submitted non-anonymous sell offer (approved/not approved/not reviewed) shall be performed by the exchange trading participants during the non-anonymous transactions execution period of the current trade session in the AgriTrader program module.

Upon completion of the approval procedure in the AgriTrader program module, the seller and the buyer specified in the non-anonymous sell offer shall be served, through their personal account interfaces, notices of approval/non-approval of the submitted non-anonymous sell offer, with an indication of the reason for rejection of the non-anonymous sell offer that is not approved.

If the non-anonymous sell offer is rejected or not approved by the Exchange, such non-anonymous sell offer may be resubmitted after the reasons for its rejection are eliminated using the AgriBidLoader offers submission program module, provided that the period of time allocated for the submission of non-anonymous sell offers has not expired.

If the non-anonymous sell offer is accepted and approved by the Exchange, the seller and the buyer specified in the non-anonymous sell offer shall draw and sign the exchange contract and present it to the Exchange for registration in the “Electronic Documents” tab of the personal account interface.

The exchange contract formalizing the terms of the non-anonymous sell offer may be drawn by any of its parties.

The exchange contract shall be signed with the electronic digital signatures of the parties, and presented to the Exchange for registration by 09:00 a.m. of the business day on which the next exchange auction for the sale of “Dairy Products with an Option to Execute Non-Anonymous Exchange Transactions (Export)” is to be conducted in accordance with the schedule of exchange auctions.

If the buyer who is a non-resident of the Republic of Belarus is accredited as an exchange auctions visitor for execution of non-anonymous exchange transactions (using the simplified system), the seller shall present the contract signed by both parties (no EDS of the buyer shall be required).

The presented exchange contract shall meet the following conditions:

the exchange contract is presented in accordance with the established procedure and within the established period;
the terms of the exchange contract do not contradict the terms of the non-anonymous exchange transaction;
the exchange contract is signed by authorized persons (for exchange auctions visitors, by the trader of the exchange trading participant or by the executive officer).

If the exchange contract complies with the established requirements, the Exchange shall register the exchange contract. The non-anonymous exchange transaction shall be deemed to have been registered by the Exchange as of the time of registration by the Exchange of the contract formalizing the terms of the completed non-anonymous transaction.

If the exchange contract fails to comply with the established requirements, the Exchange shall refuse to register the non-anonymous exchange transaction formalized by such exchange contract, specifying the reason for such refusal.

If the Exchange refuses to register the exchange contract formalizing the terms of non-anonymous exchange transaction, such exchange contract may, upon elimination of the reasons for such rejection, be resubmitted to the Exchange for registration, provided that the period of time allocated for the drawing and signing of the exchange contract has not expired.

Contact Information

Tatyana Nikolayevna Vorobey, tel.: +375 (17) 309 37 12,
e-mail: t.vorobey@butb.by.

Svetlana Petrovna Titova, tel.: +375 (17) 309 32 64,
e-mail: agro@butb.by.

Elena Vasilyevna Kanyushik, tel.: +375 (17) 309 37 11,
e-mail: dairy@butb.by.