Participants of exchange trades can make non-anonymous exchange transactions during the current trading session "Dairy products (export, with the possibility to make non-anonymous exchange transactions)" after the main trading period of the current trading session is over.

The schedule of exchange trades for dairy products (export) during which non-anonymous exchange transactions are possible is available here.

Participants of exchange trades can make non-anonymous exchange transactions with the following basic commodities:

• milk and cream, condensed or with the addition of sugar or other sweetening agents in powder, granules or other solid forms, with a fat content of not more than 1.5% 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 a fat content of more than 1.5%, without added 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 milk fat content of more than 72 % but less than 80 % in primary packages with net weight of more than 1 kg (HS code 0405 20).

One can form composite lots by combining basic commodities with other dairy products listed for trading in BUCE’s agricultural products section.

Each seller specifies the volume of basic commodities intended for sale during the main trading period by submitting commodity lots in which dairy products are grouped by type and grade as well as price and delivery terms (country of destination).

The volume of basic commodities that can be bought/sold through non-anonymous transactions varies for each seller and each basic commodity depending on the terms of delivery and other significant parameters of lots and cannot exceed the triple of the volume of basic commodities offered by the seller during the main trading period of the current trading session. The volume specified by the seller signifies his consent to make a non-anonymous transaction on the terms declared during the main trading period.

When a composite lot consisting of heterogeneous basic commodities is submitted during the main trading period and the seller subsequently intends to make a non-anonymous transaction for a bigger/smaller volume of one of the basic commodities, the volume of all other basic commodities in the composite lot is adjusted proportionally.

When a composite lot consisting of a basic commodity and other dairy products is submitted during the main trading period and the seller subsequently intends to make a non-anonymous transaction for a bigger/smaller volume of one of the basic commodities, the following applies:

• if the volume of the basic commodity is reduced, the volume of all other dairy products in the lot may remain the same or be reduced to a level that does not upset the original proportion in the lot;

• if the volume of the basic commodity is increased, the volume of all other dairy products in that lot must remain the same or be increased to any level without the need to observe the original proportion in the lot.

Participants of exchange trades can make non-anonymous exchange transactions with dairy products priced as follows:

• for basic exchange commodities;

• at a price equal to or higher than the exchange quotation for basic commodities calculated based on the results of the main trading period of the current trading session. The exchange quotation is published by BUCE in the form of a minimum weighted average price for each commodity taking into account the country of destination, delivery basis (including destination point (if necessary)), terms of payment and terms of delivery of up to 3 months (inclusive). When making non-anonymous exchange transactions, the participants of exchange trades must ensure that the price of the transaction is not lower than the minimum price for each commodity indicated in the exchange quotation published on BUCE website and on the same terms.

• at a price equal to or higher than the price declared during the main trading period (by lots) and determined in accordance with the legislation on the date of conclusion of the non-anonymous transactions - in case there is no exchange quotation for the corresponding basic exchange commodities;

• for other dairy products listed for trading in BUCE’s agricultural products section – at a price equal to or higher than the lowest price for specific dairy products declared by a particular seller in the main trading period in accordance with the legislation.

The exchange quotation based on the results of the main trading period is published on BUCE website on the “Quotations” page not later than 9:30 a.m. of the business day following the end of the main trading period of the current trading session (except for exchange trades scheduled for Friday, in which case the exchange quotation is published no later than the end of the business day on which the main trading period was held).

A seller can submit a non-anonymous sales offer from 9:30 a.m. of the business day following the day when the main trading period of the current trading session concludes up to:

• 04:00 p.m. of the business day preceding the day when the next exchange trading session is scheduled – if the main trading period is held on Monday and Wednesday;

• 12:00 p.m. on Monday – if the main trading period was held on Friday and the next trading session is scheduled for Monday.

The parties to a non-anonymous exchange transaction must be accredited participants of exchange trades.

A seller participating in the main trading period of the current trading session can submit a non-anonymous sales offer.

The seller sets the terms of a non-anonymous exchange transaction for a specific commodity taking into account the terms he declared for this commodity during the main trading period of the current trading session.

When submitting non-anonymous sales offers to organizations that are part of commodity distribution networks, the payment and delivery terms declared in the main trading period may be adjusted. In all other cases, adjustment of payment and delivery terms declared in the main trading period is not permitted.

Sales offers under non-anonymous transactions are submitted using an electronic digital signature (EDS) by filling in the form in the web-application for registration of over-the-counter transactions on BUCE website www.butb.by. The seller must specify “Non-anonymous exchange transaction” in the information column “Grounds”.

BUCE can refuse to accept a non-anonymous sales offer on the following grounds:

• the buyer specified in the non-anonymous sales offer is not accredited on BUCE as a participant of exchange trades and (or) exchange broker;

• the seller and (or) the buyer and (or) the seller specified in the non-anonymous sales offer has been denied participation in exchange trades;

• the procedure and the time frame for submitting non-anonymous sales offers have not been observed.

If there are no grounds for refusing to accept the non-anonymous sales offer, BUCE sends a request to the seller in the information system to provide the exchange contract that formalizes the terms of the non-anonymous sales offer.

Before 9:00 a.m. on Monday, Wednesday and Friday (or before 1:00 p.m. on Monday if the transaction is made on Friday), the seller must use BUCE information system to submit the exchange contract stipulating the terms and conditions of the non-anonymous sales offer.

The exchange contract is signed by both parties in writing or using any other suitable means of communication (the parties can close the deal by exchanging signed scanned copies of the contract).

The submitted exchange contract must meet with the following requirements:

• the procedure and time frame for submitting the exchange contract are observed;

• the terms and conditions of the exchange contract do not contradict the terms and conditions of the non-anonymous exchange transaction;

• the exchange contract is signed by authorized persons (an authorized trader of the exchange trade participant or the CEO).

If the exchange contract meets all the above requirements, BUCE registers the non-anonymous exchange transaction. The transaction is considered concluded and comes into effect immediately upon its registration by BUCE.

BUCE emails an individually signed transaction register to both – the seller and the buyer, so that they could independently prepare the primary accounting document.

If the exchange contract does not meet any or all of the above requirements, BUCE refuses to register the non-anonymous exchange transaction specifying the reason for such refusal.