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Retail Market – Fungible Goods

Within the Fungible Goods trading floor, buying and selling auctions take place for any fungible good which is not commonly traded enough to warrant a specialised trading floor.

Among products available within the Fungible good trading floor you can find:

Mineral water, still or sparkling, baked goods, butchery products, dairy products, canned foods, etc.

Solid fuels used for heating such as: Fire wood, briquettes, pellets, sawdust, etc.

Chemical products for various uses: urea, defrosting chemicals, calcium chloride, water treatment chemicals, agricultural fertilisers, etc.

Various products used for auto parc maintenance: tires, technical oils, antifreeze, etc.

Precious metals: gold, silver, palladium, etc.

The main advantages resulted from accessing the Fungible Goods section of the Retail market refer to:

  • Advantageous price– Resulted from an organised system as a direct product of supply and demand. Using the price negotiation within the live or electronic auction offers the possibility of further price improvement compared to the initial best offered price. If the obtained price does not fall between your highest accepted price, the possibility of negotiating with only the best price bidder exists within the trading session, without having to repeat the procedure;
  • Reduced amount of time for procedure completion– The order is scheduled for trade within maximum 7 days from the date of issue;
  • RCE quotes– These offer the advantage of a reference system with regards to the prices within the market available through RCE;
  • The exchange guarantee system- executing the contract in good conditions using the utilised system as well as careful bidder selection before admission to the trading sessions.
  • Large number of existent bidders due to the large quantities traded at the total market level;
  • Efficient time and effort management related to the capitalization or acquisition of products;
  • Elimination of bureaucracy related to classic public acquisitions through commodity standardization and reduction of the amount of needed documents.

Acces și modalități de tranzacționare pe Piața Retail (Disponibil) – Ringul General al Produselor Fungibile

1. Complete the Initiating Order according to your specifications.

ATTENTION!

Within the Fungible goods trading floor, the bid price contains the price of the goods including transport but VAT exclusive! For instances where more than one type of good is traded, the price of the whole contract will be offered with included transport but VAT exclusive!

2. Schedule the date of the trading session with the Trading floor manager or with the director of the Terminal of which you belong to.

Your trading session (auction) will only take place on RCE’s electronic trading platform. It will be scheduled in a maximum of 7 calendaristic days from the date of your Initiating Order issue date. In order to schedule the session earlier (4 days minimum) or reschedule ( later than 8 days) please send a written request to the Retail market Natural Gas manager or to the RCE Terminal which has organised the procedure.

3. Provide RCE with the Initiating Order together with the Award documentation.

It is recommended that the Award documentation shall contain:

  • The task specification – your conditions and technical specifications for the supply of goods in your future supply contract.
  • Annex containing your delivery location
  • Draft supply contract- your conditions and specifications from a legislative and economic point of view.
  • Participantion form- To be completed by all potential bidders.

4. RCE publishes your Initiating Order and sens the Participation invitation.

If the Initiating Order and Award documentation was sent before 16:00, the procedure will be published in the same day.

If the documentation has been sent after 16:00, the procedure will be published the following day. Due to this, the procedure calendar can suffer changes. All responsibility related to changes to the procedure date falls exclusively to the Initiating customer.

5. Advertising period

Between the date of the procedure publication and the limit date for providing the offers, any potential bidder can send clarification requests and/or document modification requests, to the addresses mentioned but within the time limit mentioned in the Initiating order. The responsibility of answering the requests and clarification of the Award documentation falls to the initiating customer.

6.Bidder registration for the procedure and providing the offers

Any potential bidder must provide requested documentation within the mentioned time limit, like so:

  • Opposite order- To the Natural Gas manager and the organising RCE terminal
  •  Proof of guarantee constitution- To the Natural Gas manager and to the organising terminal
  • Award documentation (requested by the initiating customer)  – To the Natural Gas manager and to the organising terminal

7. Evaluating and qualifying/rejecting offers

Documentation  requested through the Award documentation evaluation (According to Law 98 and/or 99/2016) within the opposite offers as well as qualification or rejection of offers in the price trading stage of the session is realized by the evaluation committee. All responsibility of qualifying or rejecting received offers falls exclusively to the Initiating client.

8. Electronic trading session

  •     Stage I: Opening stage- Bidders introduce their starting price- Duration: 15 minutes
  •    Stage II: Free trade- Bidders improve the pries introduced in stage I  – Duration: 15 minutes

Bidder prices and the initating customers prices are visible to all participants during the session.

The Initiating clients price can be matched by any bidder, thus launching the trade. The execution time is 2 minutes.

The price of the bidder which launched a transaction can be improved by any another bidder. The execution time is 2 minutes.

If the matched order is not improved for 2 minutes, the transaction is successfully concluded.

  •   Stage III: Session close– Bidders can not modify their prices. The initiator accepts or refuses the best price.

9. Procedure finalising. Documents issues post trading session.

  • Trading session report-this is signed by all participants to the procedure:

Initiating client

Bidding clients

Session coordinator

  •  Session contract (For sessions with a successfull transaction) – signed by:

Initiating customer

Winning bidder of the transaction

Session coordinator

10. Procedure closing. Guarantee clearing. RCE commission payment

  •  If the organisation you represent is part of the concluded transaction, pay the RCE commission in the account specified on the invoice.
  • If your guarantee was constituted through a money order, you can pay the value of the commission through compensation in the guarantee account. Request the reciprocal debt clearance to the RCE manager. The difference will be provided back to you by RCE in the account specified.
  •  If your organisation was not part in the transaction and has no debts to clear with RCE, RCE will pay back the amount in the account specified by you by the time specified in the guarantee restitution request.