Ukrainian Energy Exchange LLC (UEEX) continues to expand the list of banks accredited to issue bank guarantees. Another step in this direction was the successful completion of the accreditation of JSC CB PrivatBank.
From now on, participants in auctions for the sale of electricity under bilateral contracts in the Specialized Section can use bank guarantees issued by PrivatBank as part of the guarantee security for the fulfillment of obligations under electricity purchase and sale contracts. This significantly increases the convenience of participating in auctions and helps optimize companies’ working capital.
It should be recalled that according to the Regulations, up to 50% of the guarantee fee amount can be provided in the form of a bank guarantee. This mechanism ensures a balance between the availability of participation and the protection of the parties to the contract.
The list of accredited banks currently includes:
- Ukreximbank
- TASCOMBANK
- Oschadbank
- PUMB
- Bank Pivdenny
- Sense Bank
- Ukrgasbank
- Credit Agricole
- and a new member – PrivatBank
The accreditation of new financial institutions is ongoing. In addition, a system of counter-guarantees is in place, which allows for the involvement of even more banks and their clients interested in participating on the organized market.
"The accreditation of PrivatBank is an important stage in the development of the exchange infrastructure. We welcome the addition of a new financial partner to the bank guarantee system." "This decision gives participants more opportunities to participate in the Specialized Section auctions, allows for more effective liquidity management, and at the same time strengthens trust in market mechanisms. We will continue to work on expanding cooperation with the banking sector to improve the conditions for participating in the auctions," said Oleksandr Kovalenko, CEO of UEEX.
UEEX continues its comprehensive work to create effective, flexible and reliable financial tools for market participants. The current list of accredited banking institutions is available on the «Banking Services».