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biofuels CIC - how to operate

Before market sessions

In order to operate on the CIC market (MCIC), participants must hold at least one access profile (ownership account) at the BIOCAR portal of the GSE.

Buyer participants, in order to participate in the MCIC, are required to make a single payment, in favor of GME, as a deposit to guarantee total purchases including VAT where applicable. The trading system will accept purchase proposals only if fully covered by the available deposit.

During market session

The prices to be included in the purchase and sale proposals must be NET OF VAT. The system will automatically calculate the value of the transaction including VAT, where applicable, both for updating the deposit available during the session and for confirming the operations carried out and for administrative and accounting obligations.

Following the conclusion of market session

a) sellers shall issue one or more invoices to the GME’s buyer party;
b) buyers shall receive one or more invoices by the GME.

The technical procedures for the participation of participants in the MCIC, the times of the trading sessions, as well as the methods to communicate the amount paid as a guarantee deposit are contained in the Technical Rules.

Ordinary Sessions

The next MCIC session will be held, from 9.00 am to 12.00 pm, in:

September 2021 16
October 2021 7 - 21
November 2021 No sessions as per MITE Circular 10-06-2021
December 2021 10

The prices declared by participants, the prices indicated in the trading proposals and the price of the transaction are to be intended EXCLUSIVE of value added tax.

The guarantee deposit must be provided on the current account, in the name of Gestore dei Mercati Energetici S.p.A, n. 000011367X22 , at the institute in charge of the treasury service, Banca Popolare di Sondrio, Joint-stock company, Viale Cesare Pavese, 336 - 00144 - Rome, ABI 05696, CAB 03211, IBAN IT67 O056 9603 2110 0001 1367 X22, SWIFT CODE POSOIT22, By 12.00 pm on the working day before the opening of the trading session.

 
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