The Law on Commodity Exchanges has come into full force

The NSSMC draws the attention of market participants that on July 1, 2021 the new Law of Ukraine on Commodity Exchanges came into force, as amended by Law №738-IX of 19.06.2020 which provides  new rules and requirements to carry out professional activities in the market.

Thus, the current legislation stipulates that all standardized goods should be traded on exchanges which are licensedI by the NSSMC, if they are going to continue operating as a commodity exchange.

From now on, the term «commodity exchange», «organized market operator», «organized market» and their derivatives may be used in the title only by legal entities which are  licensed to trade on commodity exchanges.

It is important that the licensed commodity exchange should monitor exchange trading and control the observance of exchange rules by exchange traders, including in order to prevent manipulation on the commodity exchange and insider trading.

It will be recalled that the NSSMC recently issued licenses for professional activities to the Ukrainian Energy Exchange for the first time, in accordance with the new norms of the current legislation.