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Currently the Platform offers woodchip biomass products for trade. The products have been divided into five categories: EKS1- stump chips EKS2 – wood residue chips; EKS3 – untrimmed tree chips; EKS4 – forestry residue chips; EKS5 – bark chips. Technical specifications are available in the Trade Platform Code. The Code can be downloaded here

After the registration has been approved, the Participant should submit collateral arrangement to the Platform operator. The collateral can be submitted in three ways: paying a guarantee, submitting a bank guarantee or an insurance policy to the Trade Platform manager. This collateral arrangement will serve as a guarantee both for the Buyer and the Seller on the quality of the product, the volume, deadline and payment. In addition, the Participant on the day of trading may not have any tax debts, including debts for social insurance contributions in Latvia and in the country of registration (if it is not registered in Latvia) for over EUR 150 in each respective country. More details about the trading terms can be found in the Trade Platform Code. The code can be downloaded here.

Trading has been divided into trading periods that start at 16:00 on the first working day of the week and lasts until 16:00 on the first working day of the next week. The trading session has been divided into five stages:

1. The stage of Participant’s tasks – The longest period of the trading session. During this stage, you may open, change and cancel buying and selling orders. It starts at 16:00 on the first working day of the week and ends at 10:00 on the first working day of the next week.
2. The stage of the Seller’s orders – lasts for one hour from 10:00 of the first working day of the week until 11:00. During this stage, only Sellers may open, change and cancel their orders. Buyers may not open, change and cancel their orders any more.
3. Auction stage – lasts for one hour from 11:00 of the first working day of the week until 12:00. During this stage, Buyers may reduce the price of the opened orders for an unlimited number of times. There is a time given – 2 minutes – for reduction of prices, starting from the beginning of the auction stage. Price reduction period is extended by 2 minutes after entering each new price reduction order, if it affects the trading results, but for no longer than the end of the auction stage.
4. The Buyer’s decision stage – lasts for one hour from 12:00 of the first working day until 13:00. During this stage, if the Buying orders were not fully covered with the Selling order, prices of which are higher than the Buying order price, the Buyer may increase the Buying order price so that it covers all or a part of the Selling order.
5. Transaction stage – lasts for 3 hours from 13:00 of the first working day until 16:00. During this stage, objections on the current trade session can be submitted until 14:00. Until 16:00, the objections are being revised and results processed. The final trading results are announced by 16:00.

After the auction is completed, with the moment when the Manager on the Trade Platform has registered compatible orders of the Participants and has announced them on the Trade Platform, it is being considered that the respective legal transactions among Participants are concluded and take effect. The Participants receive banking information of the compatible orders and start implementation of the transaction in line with the purchase agreement terms. The standard purchase agreement terms are described in the Trade Platform Code. The Code can be downloaded here.

The collateral arrangement for both Buyer and Seller is ensured by careful selection during Participant registration and granting permissions to access the Trade Platform, as well as the collateral arrangements submitted to the Trade Platform manager. More details about collateral arrangement can be found in the Trade Platform Code. The Code can be downloaded here.