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Manual for trading in timber on the Czech Moravian Commodity Exchange Kladno

1. The selection of a Broker

In accordance with Act No. 229/1992 Coll., On Commodity Exchanges, as amended, those parties who are interested in trading on the Commodity Exchange and who are not members of the 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 conclude a contract for the brokerage of commodity exchange trades.

Those who are interested in trading in timber can choose from amongst the following Brokers:

FIN-servis, a.s.
Dr. Vrbenského 2040, 272 01 Kladno
Ing. Petr Havelka, Chief Broker
tel.: +420 312 292 870; mobile: +420 602 104 054; e-mail: phavelka@fsk.cz, www.fsk.cz

PROSPEKSA, a.s.
Ringhofferova 115/1, 155 21 Prague 5 – Zličín
Ing. Miloslav Ryšavý, Chief Broker
mobile: 721 834 818; e-mail: rysavy@prospeksa.cz, www.prospeksa.cz

MM TRADER CZ, a.s.
Arbesova 492, 272 01 Kladno
Miroslav Sochor, Chief Broker
mobile: +420 602 127 335; tel.: +420 312 276 067; e-mail: sochor@mmtrader.cz, www.mmtrader.cz

2. The registration of the trading participant at the CMKBK Registration Centre

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 steps:

  • The applicant fills-out an Application for Inclusion in the Register of Trading Participants and a Power of Attorney for Representation when Concluding Exchange Trades and will forward signed copies of these to the Broker.
  • If required to do so by the Exchange Registration Centre, the applicant shall submit additional requisite documents.

By completing this registration the applicant becomes an entity that is authorised to trade (hereinafter referred to as the trading participant or the participant).

3. The trading process – auction for the sale of timber

The Seller shall send the Application for the announcement of the auction to his Broker in the electronic system of Exchange. trading participant will forward the purchase order to his/her Broker in the manner agreed.

The Exchange Registration Centre includes this registered auction in its Schedule of Auctions on the Timber exchange in the relevant trading session. The sequence of the auctions (described as the “listing”) will then be made available to registered participants one week before the trading date.

If, during the course of the electronic auction, demand and supply match (based on the last valid price proposal), the Registration Centre records that the transaction has been concluded.

4. The trading process – buying timber

The purchase in the electronic trading system takes place from Monday to Friday on all working days according to the schedule of auctions included in a specific trading day. The negotiator informs the buyer about the offers he is usually interested in (depending on the tree or region). The buyer responds at his discretion with price proposals for the current course of auctions. It can use the “automatic design” function, which will respond to the development of the auction in the absence of the buyer according to pre-set instructions.

5. Information about the results of the trading

If the trade is concluded (the offer with the best price of the demand), the exchange issues a contract (closing list), which the conciliator confirms together with the exchange and sends it signed to the seller and / or buyer. The seller pays a fee of CZK 2 / m3 for a closed trade. The buyer does not pay any exchange fee.

Contacts

Czech moravian commodity exchange Kladno
nám. Sítná 3127, 272 01 Kladno
Czech Republic
Tel.: +420 312 818 040
e-mail: info@cmkbk.cz