Glossary
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| Account Administrator |
An employee of a Market Member with special account privileges enabling them to make modifications to that Market Member's company profile, Counterparty List and list of Authorised Traders. |
| Authorised Trader |
An employee of a Market Member authorised to buy and/or sell coal on behalf of the Market Member. Each Market Member may have multiple Authorised Traders. |
| Authorised Viewer |
An employee of a Market Member authorised to monitor the pricing, transaction and other trading information on behalf of a Market Member (but cannot execute deals on behalf of the Market Member.) |
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| Counterparty List |
A list maintained by the Market Member indicating which other Market Members it is prepared to trade with via globalCOAL's systems. Only where two Market Members have mutually agreed one another on their respective Counterparty Lists, will globalCOAL's systems allow them to trade with one another. |
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| Delivery Period |
Delivery Periods are typically (but not always) a specific calendar month in which delivery is scheduled to take place. Note that one can select a specific Delivery Week when trading ARA1 or ARA2. When trading on the Standard Coal System, the following applies to all instruments:
- an order submitted into the "monthly" periods is for a volume of coal equivalent to that shown in the order for delivery in that month;
- an order submitted into the "quarterly" periods is for a volume of coal equivalent to that shown in the order for delivery in EACH month of that quarter (i.e. three times the volume of the submitted order); and
- an order submitted into the "annual" periods is for a volume of coal equivalent to that shown in the order for delivery in EACH month of that year (i.e. twelve times the volume of the submitted order)
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| Fees |
Market Members pay an annual membership fee of USD 12,000.00 for a package comprising 2 Trading Accounts and 1 View Only Account over a period of one year.
Additional packages are available at the same cost. Additional single Trading Accounts or View Only Accounts are available at a cost of USD 350.00 Trading Account per month and USD 250.00 per View Only Account per month respectively.
In addition, globalCOAL levies a commission on tonnage traded as follows:
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| Market Member |
Companies that wish to buy and/or sell coal in an OTC environment become Market Members of globalCOAL by entering into a Usage Agreement with globalCOAL and paying the annual Membership Fee. |
| Membership Fee |
An annual fee of USD 12,000.00 paid by Market Members to provide a package comprising 2 Trading Accounts and 1 View Only Account. |
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| OTC |
'Over-The-Counter': a marketplace in which transactions are likely entered into via an intermediary such as a broker or electronic system, but where settlement takes place directly between the buyer and seller rather than via a clearing exchange. |
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| Registered User |
Individual or corporate users who have registered with globalCOAL's website in order to gain access at no charge to globalCOAL's information databases, complimentary news and limited pricing information. |
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| Trading Account |
An account (comprising a unique username and password) issued to a Market Member's Authorised Trader for the purposes of buying and/or selling coal on globalCOAL. |
| Trading Hours |
The Standard Coal System operates 24 hours per day, 7 days per week and Market Members may trade and input prices whenever they wish. |
| Training Sessions |
For training in, or demonstration of the Standard Coal System, please contact Arjen Knottnerus for further information. |
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| View Only Account |
An account (comprising a unique username and password) issued to a Market Member's Authorised Viewers. |
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