Once cleared funds and the PRNs have been lodged with OMEE, we will arrange to deliver the PRNs to the buyer and the funds, less OMEE fees, to the seller. All cash deposits will be returned with accrued interest on settlement of the contract. All interest earned will be returned to the original depositor Trading fees You are only charged fees by OMEE if and when you trade. The minimum trading fee of 10 means that all orders of less than 20 tonnes will incur this charge, whilst orders of more than 20 tonnes will be charged at 50 pence per tonne. Please note that on forward contracts the trading fee, reprocessor charge and VAT are only payable at final settlement of the PRNs.
Participants have the option to use either the spot market or the forward market.
When a buyer and seller trade they are required to deliver PRNs or the funds within three working days after the trade takes place. This provides a price fixing mechanism that can benefit both the buyer and seller. Delivery and payment of the PRNs will take place on a quarterly basis. When choosing to trade in the forward market buyers and sellers will have the choice of 4 contracts to trade in. Contracts will run on a rolling basis.