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Glossary – Electronic trading platform

Electronic trading platform

Nikiforov Alexander
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What is an ETP?

An electronic trading platform (ETP) is a web resource where both government and commercial procurement takes place. On such platforms, customers post their requests for the purchase of goods and services, while suppliers submit their price offers, participating in the competitive selection process. Once all the terms of the deal are agreed upon, the parties sign contracts, which significantly simplifies the transaction process.

How an electronic trading platform works

Although each ETP has its unique functions and features, the operation process on such resources generally follows a common algorithm:

  1. Registration of parties. All participants create accounts, providing personal information and organization details.
  2. Creation of an announcement (lot) by the customer. This announcement lists key requirements for the procurement object and the contractor, as well as the terms of participation in the auction, including contract cost, technical specifications, and necessary certificates.
  3. Submission of an application by the supplier. The supplier forms a price offer, describing the terms of cooperation.
  4. Selection of the contractor by the customer. The tender organizer reviews all submitted proposals and selects the most suitable one.
  5. Conclusion of the deal. After discussing the terms and clarifying any missing data, the parties draft and sign a contract.

Functions of electronic trading platforms

ETPs perform numerous significant functions, including:

  • Simplifying access to transactions. The platform facilitates finding customers for suppliers and selecting contractors for customers.
  • Regulating the auction process. All operations are conducted according to established rules, promoting transparency.
  • Verification of counterparties. Users can study information about registered organizations and their reputations.
  • Analytics and statistics. Participants can track transactions and payments, making the process more transparent.
  • Ensuring security. ETPs use cryptographic protection and data encryption mechanisms, minimizing the risk of information leakage.

Types of electronic trading platforms

Procurements can be divided into several types, determining the classification of ETPs:

Government ETPs

These platforms host requests from government institutions, ranging from the highest authorities to budget organizations in small towns. Suppliers include both B2G companies and individuals meeting legal requirements. The operation of government ETPs is regulated by Federal Law No. 44. As of today, there are eight such platforms, including:

  • RTS-tender
  • RAD State Purchases
  • National Electronic Platform
  • Order of the Russian Federation
  • Roseltorg
  • Gazprombank ETP
  • Sberbank-AST
  • TEK-Torg ETP

Since 2019, all procurements under government contracts must be conducted in an electronic format.

Corporate ETPs

These platforms conduct procurements for companies with state participation, including state-owned companies and corporations. There are over 200 corporate ETPs, such as:

  • Purchases of the Federal State Unitary Enterprise "Russian Post"
  • Tenders of PJSC "Lukoil"
  • Tenders of "Eldorado"

The operation of corporate platforms is regulated by Federal Law No. 223.

Commercial ETPs

Commercial organizations use both general platforms and create their own ETPs to expedite tenders. Examples of such platforms include:

  • Supplier Portal of Moscow
  • United Electronic Trading Platform

The terms of participation in the auctions are set by the organizer and must comply with legislative norms.