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HANSE Trader License: spot or term agreement

We distinguish between a 'spot license' or a 'term license'.  Traders are required to opt either way with license application. In practise, this means that a spot trader is NOT legitimated to conclude spot- and/or term contracts consecutively or simultaneously, and vice versa. Consequently, a spot tansaction can not be followed by a term agreement until license maturity date.  

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