The contents of «Transaction monitoring» section are for information purposes only and cannot be referred to when resolving disputes and other important issues arising from or related to exchange trade.
One of BUCE's main goals is to enable and empower economic agents to develop their business through exchange trade. This type of trade has certain advantages over other types — one can search for potential business partners using BUCE's electronic trading platform and its unique database as well as legal instruments, software technologies, information and other mechanisms that ensure efficiency, fairness, competition and transparency of exchange auctions.
Any exchange trade participant wants his business to be successful, efficient, fair and profitable bringing both material and spiritual satisfaction. Material satisfaction is understood as financial and commercial success, whereas spiritual satisfaction means believing in one's success, luck, business savvy, organizational skills, production discipline and trust in business partners. Every exchange trade participant wants to be sure that his counterpart will honor his commitments in full and on time.
The core objective of the Exchange is to help future partners execute transactions at exchange auctions. The Exchange is interested in conclusion of exchange contracts as well as reliable and responsible fulfillment of contractual obligations. Moreover, in accordance with the Law of the Republic of Belarus «On Commodity Exchanges» and «The Exchange Trade Rules» the Exchange is to monitor collateralized exchange transactions.
The Exchange has a Transaction Monitoring Department tasked with the following:
- Facilitating proper execution of contractual obligations by parties thereto.
- Monitoring execution of Exchange Transaction Contracts with the focus of prevention or mitigation of consequences of improper fulfillment of obligations by either party.
- Ensure unbiased and efficient out-of-court settlement of disputes between parties to an exchange transaction.
- Implementing effective and reliable mechanisms to ensure the fulfillment of obligations.
- Taking action against the party responsible for failure or improper fulfillment of its obligations.
Exchange officials within trading sections of the Exchange Auctions Department do this work on a daily basis.