Ukrainian Universal Exchange LLC (Poltava) allows the possibility of leasing or sharing its new electronic system for exchange trading or its elements, which the company developed after the "collapse" of its previous trading platform on the day the Russian invasion began, on February 24.

"Currently, the system is completely "fresh," we have put into it the functionality that we wanted, and we are working in parallel to improve, identify possible shortcomings. But we still have plans to refine and change the functionality due to the fact that we want to find other markets," exchange director Serhiy Hladky said in an exclusive interview with Interfax-Ukraine.

He clarified that exchange specialists were developing their own trading system even before the full-scale Russian military invasion of Ukraine, and the outbreak of hostilities only accelerated its launch (the system started on April 19) after the work of the previous trading exchange system had suddenly stopped on February 24.

"For everyone, it was a shock on February 24, when work was still going on by inertia. That is, the auctions were launched and were supposed to take place, but on February 24 we faced the fact that all services were turned off at one moment. It was a rented trading system that we used even before obtaining a license. The market on it had certain developments, and we used it while our own was in development," he specified.

According to him, due to the sudden shutdown of the trading system, the exchange was forced to cancel a number of trades in the first three weeks of the war due to lack of access, and in some regions the results of trades held earlier were canceled.

"We had preliminary auctions. For example, the contracts concluded then in Chernihiv, Sumy and Kharkiv regions cannot be physically fulfilled even now, so we had to cancel them for objective reasons. So there were contract failures. But it was a turning point that we successfully overcame and coped with the situation," the head of the exchange said.

Ukrainian Universal Exchange was founded in 1997 and operates in the areas of public procurement (ProZorro, tender.uub.com.ua) and the sale of state and municipal property (ProZorro.Sale, sale.uub.com.ua).