In accordance with Act No. 229/1992 Coll., On Commodity Exchanges, as amended, those parties who are interested in trading on the Commodity Exchange, will utilise the services of an agent for trading, who, in exchange terminology, is denoted as a Broker.
The Broker represents a member company of the Czech Moravian Commodity Exchange Kladno (the CMKB) that has been authorised by the Exchange Chamber to represent other participants who are trading on the Commodity Exchange and to mediate the concluding of deals.
Therefore, those who are interested in trading on the Commodity Exchange will first select a Broker and then conclude a contract for the brokerage of commodity exchange trades.
Those who are interested in trading in power electricity and/or natural gas can choose from amongst the following Brokers:
Dr. Vrbenského 2040, 272 01 Kladno
Ing. Petr Havelka, Chief Broker
tel.: +420 312 292 870; mobile: +420 602 104 054; e-mail: email@example.com, www.fsk.cz
Ringhofferova 115/1, 155 21 Prague 5 – Zličín
Ing. Miloslav Ryšavý, Chief Broker
mobile: 721 834 818; e-mail: firstname.lastname@example.org, www.prospeksa.cz
MM TRADER CZ, a.s.
Arbesova 492, 272 01 Kladno
Miroslav Sochor, Chief Broker
tel.: +420 312 276 067; mobile: +420 602 127 335; e-mail: email@example.com, www.mmtrader.cz
The second step prior to initiating trading is the registration of the trading participant at the CMKB Registration Centre. From that time onwards s/he will be represented by the Broker with whom s/he concluded a contract for the brokerage.
The registration conditions are streamlined to comprise just the following three steps:
By completing this registration the applicant becomes an entity that is authorised to trade (hereinafter referred to as the trading participant or the participant).
The enquiring party (the purchaser) shall forward the purchase order to his/her Broker in the manner agreed. The Brokerage Company, represented by one of its Brokers, sends this order through the Exchange’s electronic system as an Auction Application. The Exchange Registration Centre includes this registered auction in its Schedule of Auctions of the Energy Exchange’s Secondary Market and assigns a date to it. The sequence of the auctions (described as the “listing”) will then be published, at the earliest one month and not later than one week prior to the date of the trading session.
During the actual electronic auction the enquiring party (i.e. the purchaser) is also represented by the Broker. If, during the course of the electronic auction, supply and demand match (based on the last valid price proposal), the Registration Centre records that the transaction has been concluded.
The Brokerage Company, represented by one of its Brokers, signs on behalf of its client (i.e. the supplier) to trade within the relevant module of the Commodity Exchange’s electronic system in the current trading session (on the trading days). If, during the course of the electronic auction, supply and demand match (based on the last valid price proposal), the CMKBK Registration Centre records that the transaction has been concluded.
If a deal is concluded and the Exchange issues a note that has the legal validity of a business contract, the Exchange shall immediately inform the Brokerage Company or one of its Brokers of this.
The Brokerage Company, represented by one of its Brokers, shall notify the participant that it represents, in regard to the successful conclusion of the transaction.
Within 7 calendar days from the concluding of the transaction the Broker shall send a closing note that is confirmed by the Exchange.