NSEL-e-Auction - National Spot Exchange Limited

7Once Seller initiates RFQ, the mails shall be sent to the eligible biddersimmediately. Eligible bidders are those who have done registration or createdtheir own intention for specific commodities.Fig 3.2 creation of RFQ page available only to the sellers post login3.3 View of RFQ by the bidder and participation: Bidder is allowed to view all current and scheduled RFQs forcommodities, where auction is to be initiated. This is for the purposeof dissemination of information and generating interest amongbidders.Once the auction session starts, the bidder can place bid (Quantity,Price). However, the seller cannot place buying bid on any RFQinitiated by him.No order below the buffer price will be accepted by the system. Pleasenote that buffer price shall be visible to the market. However, floorprice fed by the seller will not be visible to the buyer.