Accounting of Traders' Transactions

1. Positions (rights and liabilities under concluded deals) of Trading Participants (hereinafter referred to as Traders) shall be recorded on special Trading (Position) Accounts in GTS.
2. A separate Trading Account shall be opened for each Trader. Each NAMEX Member/Regular Visitor shall have its main Trading Account as well as separate Trading Accounts of its every Client, where positions, opened by NAMEX Member/Regular Visitor by request of the Client, are fixed.

Formalization of Trading Session Results

1. At the end of each trading session a Report shall be issued for every Trader with data on deals, concluded at NAMEX by this Trader during the trading day and Parties to Supply Contracts specified.
2. NAMEX shall generate Supply Contracts for each Trader and Supply Controller on deals, closed out by Traders, to the end of the trading day.
3. NAMEX, in accordance with Agreement with Supply Controller (Authorized Government Agent), shall submit all documents and data, required for supervising fulfillment of Traders' liabilities under Supply Contracts, including list of Traders, being Contracting Parties to every Contract, which shall deliver the basic asset and pay for it.
4. Supply Contract shall be signed by Traders (Contracting Parties) and Supply Controller in terms and in compliance with procedure, stipulated in corresponding Traded Instrument Specification and Trading Regulations.

Circulation of Security Deposits

• Security Deposit is a sum of cash in RUR, being a collateral for fulfillment of Trader's liabilities to sign a Supply Contract, execute this Contract in accordance with its terms, and pay a Trading Fee in case of concluding a deal during trading session.
• In order to participate in trading session (to conclude deals) the Trader or any third party on its behalf shall pay the Security Deposit in accordance with terms and procedure, stipulated by Specifications, into NAMEX bank account at Rosselkhozbank.
• The Trader shall operate during trading session (make bids and conclude deals) within the limit, which complies with the sum of its Security Deposit.
• Security Deposit of the Trader, which concluded a deal during trading session, shall be blocked in amount of the basic asset value of the realized bid.
• After such blocking the sum of free (released) Security Deposit, accounted for in GTS, shall be reduced by the amount of blocked part of Security Deposit.
• During the whole period, when the Trader fulfills its liabilities under Supply Contract, the Security Deposit shall remain blocked, so the Trader cannot use it for making new bids in GTS or for claiming its repayment by Request of Guarantee Deposit Return.
• The blocked Security Deposit shall be released after NAMEX receives a notification from Supply Controller (Authorized Government Agent) on fulfillment of Trader's liabilities against concluded Supply Contract.
• In order to release the Security Deposit, the Trader, which concluded a deal at trading session, shall:
  • sign Supply Contract,
  • fulfill its liabilities under concluded Supply Contact.
• Traders' Security Deposits can be written-off by NAMEX as penalties to the benefit of Contracting Party to Supply Contract in the amount of basic assets, specified in Supply Contract, minus Trading Fee in the following cases:
  • If the Trader refuses to sign Supply Contract;
  • If the Trader fails to fulfill its liabilities under Supply Contract and after NAMEX receives corresponding Notification from Supply Controller (Authorized Government Agent) on non-fulfillment of above-mentioned liabilities.
• After receiving notification from Supply Controller (Authorized Government Agent) on fulfillment of the Trader's liabilities, the Trader's Security Deposit is released by NAMEX and becomes available for the Trader (minus charged Trading Fee) for:
  • Concluding new deals at trading sessions,
  • Transfer to the Trader's bank account after submitting a Request in writing to NAMEX for return of the Security Deposit.
• Settlement of accounts between NAMEX Members/Regular Visitors and their Clients shall be performed by terms, stipulated in Broker Service Agreements, concluded between them.

Requirements to Delivery of/Payment for the Basic Asset

1. Price and quantitative parameters of the basic asset in Supply Contract shall be defined in the moment of the deal conclusion during trading session.
2. Supply Contract shall be signed by the Buyer, the Seller and by Supply Controller (Authorized Government Agent).
3. Delivery of and payment for the grain shall be performed in accordance with the terms of Supply Contract.
4. The following responsibilities shall be taken under Supply Contract:
   • By the Seller:
     • To deliver the specified amount of grain, free from any third-person rights prior to the deadline, stipulated in the Specification, to the Buyer at the Authorized Elevator.
     • To submit the following documents, required for delivery of grain, to the Buyer.
     • To submit the three-lateral Act of Grain Delivery and Receipt to the Buyer and to the Authorized Elevator for signing. The Seller shall hand all necessary documents to the Buyer on the date of signing the three-lateral Act of Grain Delivery and Receipt. The Seller's liability to delivery the grain against the Supply Contract shall be considered fulfilled on singing the three-lateral Act of Grain Delivery and Receipt by the Buyer
   • By the Buyer:
     • To effect timely allocation of cash transfer, effected as payment for the grain in accordance with the Supply Contract, to the bank account of Supply Controller.
     • To receive the grain from the Seller at the Authorized Elevator and sing three-lateral Act of Grain Delivery and Receipt.
   • By Supply Controller:
     • To supervise due fulfillment of liabilities under Supply Contracts by Traders.
     • To effect timely allocation of cash transfer, effected as payment for the grain in accordance with the Supply Contract, to the bank account of the Seller, after complete fulfillment of all liabilities by the Buyer, or return the payment, effected by the Buyer for the grain, in the following cases:
       • Failure to fulfill its liabilities by one of the parties,
       • Settlement and verification of liabilities for delivery of/payment for the basic asset by the parties.
     • To timely submit to NAMEX:
       • Notifications on settlement of liabilities for delivery of/payment for the basic asset by the parties;
       • Notification on delivery of the basic asset in case the Traders has fulfilled their liabilities under Supply Contract;
       • Notification on delivery cancellation for the basic assets in case of the failure of any Trader to fulfill its liabilities under Supply Contract.
5. Grain delivery and receipt shall not be performed, the Traders shall be made free from their liabilities under Supply Contract, Security Deposits shall be returned, if such Traders have submitted Notification on settlement of liabilities for delivery of/payment for the basic assets prior to the deadline, stipulated by Specification, to Supply Controller. Shall be signed by authorized persons and stamped by company stamps of the liable Traders.
6. Relationships between the Buyer and the Seller shall be governed by the terms of Supply Contract, concluded between them.