Process - EcoEx

How the Exchange Works

Post successful registration, members will gain access to EcoEx’s trading platform which will enlist state-wise, commodity category-wise & month-year wise trade contracts that are up for bidding in various auction types.

Once the member decides to undertake a particular contact & participate in an auction, the member will be required to agree to certain terms & conditions pertaining to the contract & the auction.

Before auction’s commencement the member will have to deposit an amount equivalent to 5% of bid value as Earnest Margin Deposit in the Escrow account provided by EcoEx.

The particular price point at which the buyer and seller gets matched during the auction will be considered as executed trades & will be registered in the trade book.

The seller will then have to login to the settlement platform and generate the certificate & block the traded quantity within T+1 day from the date of trade.

The seller will digitally sign the transfer certificate copy & send it to the buyer for validation along with supporting documents.

Post the buyer's approval, the certificate inventory will automatically get transferred from the seller to the buyer & the payment will be auto-credited to the seller.

Types of Auction

The Industry best practices are used for auction to reach the ideal value.

Uniform Price Auction

Through this process, we grant autonomy to the buyers and the sellers on our platform to arrive at a price for the plastic credit certificate exchange that they see fit. In the auction, basis the type of plastic waste, the bidders have to quote both, the price and quantity, intended to sell or purchase before the completion of e-auction time. The price at which maximum trades matches shall be considered as the uniform price for the week. All the trades matched during the auction round shall also be considered as the concluded trades for the day. The final exchange between the buyer & seller will happen at the end of the auction session.

Continuous Market Auction

The auctions happen with respect to the prices, for different categories of plastic waste, discovered during the uniform price auction. With the weekly prices set for each category of plastic waste, the bidders have to quote only the quantity that they want to buy or sell before the completion of the auction. Basis time priority, the sell & buy order will be matched during the auction and the contract will be awarded, to the respective parties of the match, at the end of the auction.

Rules & Regulations during the auction

To know the complete rules and regulation please become a member.

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