Friday, March 29, 2024

GDT market rules revised and published

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GlobalDairyTrade has revised its market rules incorporating three minor amendments and are effective for trading event 145 on August 4, 2015.
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The three minor amendments were proposed to allow GDT to:

  • be less prescriptive about the information provided to recognised financial markets
  • improve its marketing information available to its sellers
  • increase the fees paid by sellers.

You can download the document outlining the three amendments here

No submissions were received by GDT by the closing date of June 30, 2015, therefore GDT's revised market rules will be effective for trading event 145 on August 4, 2015.

GDT said the market rules ensure fairness and transparency in all GDT transactions. The rules are there to provide an enforceable framework that ensures all participants are treated the same.

The rules include guiding principles that reinforce the objectives of independence, neutrality and transparency, and the goal to be trusted by both bidders and sellers globally, it said on the website. These are used to direct modifications to the rules and governance structures, and to inform the administration and operation of GDT.

It adds "The rules also cover registration, participation, market administration and the operation of all trading events. They specify what information may be published or disclosed to specific bidders and sellers, and what must remain confidential. The rules include a participation agreement that bidders and sellers must sign before participating on GDT, along with a seller fee schedule."

Download the revised market rules here

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