EXCHANGE — a legal entity that is the organizer of exchange trading based on established rules in a predetermined place and at a specific time.
EXCHANGE AGREEMENT — a contract for the purchase and sale of exchange goods registered by the exchange, concluded based on the result of exchange trading recorded by the exchange.
EXCHANGE COTTONING SHEET — a list of goods of a certain kind that do not require preliminary inspection, are characterized by unchanging quality indicators, and consistently conclude exchange transactions admitted to exchange trading.
EXCHANGE PRODUCT — is a product of a specific type and quality, including derivative financial instruments (derivatives), admitted to exchange trading in accordance with the established procedure. Land, its subsoil, water, other natural resources, cultural heritage and intellectual property objects, works and services, individually defined items, immovable property, as well as property withdrawn from civil circulation in accordance with the law, may not be exchange goods.
EXCHANGE TRADE — a trade in exchange goods organized by the exchange in accordance with exchange trading rules. Exchange trading is conducted centrally in electronic form on the exchange, providing all members of the exchange with the opportunity to participate in these trades simultaneously.
BROKER — a member of the exchange who enters into exchange transactions on behalf of and at the expense of a client.
DEALER — a member of the exchange who enters into exchange transactions on their own behalf and at their own expense.
MARKET MAKER — a dealer who has undertaken the obligation to conclude exchange transactions to maintain the level of prices, demand, and supply for exchange goods.
EXCHANGE MEMBERS are legal entities that have received the right to participate in exchange trading and conclude exchange transactions as dealers, market makers, and brokers in accordance with the procedure established by the exchange.