Frequently asked questions
If you have a question that is not answered below, then please submit your question and we will get back to you with an answer.
What is DAO.EU?
An independent 24/7 online multi-buyer and multi-seller brokerage platform for dairy commodities in Europe.
Why should I use DAO.EU?
It saves time, gains market information and broaden your network.
Who can use DAO.EU?
Any business that is involved in the dairy market such as, dairy processors, dairy traders and dairies within Europe for physical buying, selling and/or hedging purposes.
How do you ensure the quality of the products offered?
The MPC Conditions apply for all concluded trades via the DAO.EU Platform. Specifications are attached to the available products.
Can I, as a private person, get a user account?
No, unfortunately not. We only serve B2B.
What is the minimum order quantity?
A Full truck load (approx. 22-24 Mt) depending on the product, country of origin and the destination market.
When can I, as a B2B company, get a user account?
The preconditions for admission are a credit limit of min. €50.000 carried out by a triple A credit insurance company.
Can I select my counterparties on DAO.EU?
Yes, each user has the possibility to choose the counterparties they prefer to trade with. All the bids, offers and market trade notifications are available for all users on the DAO platform.
Can I request additional payment security from the buyer?
Yes, in article 6.2 of the MPC conditions it’s clearly stated that the seller shall be entitled to require the buyer to provide adequate security for payment before effecting the delivery.
Is DAO.EU completely independent?
Our software partner Cream is the only company that has access to the back-end data build upon TLS protocols, Amazons AWS firewalls and RDS architecture. Cream sends DAO an overview once per month covering the total brokerage fees of the trades in that particular month. DAO is not able to see any additional information of the conducted market trade (e.g. purchase/sale, which product, when traded, what price etc.). DAO then sends out a monthly invoice to all participants where payments are due from this overview.
What are the differences between DAO.EU and other platforms powered by Cream?
DAO.EU is the only 24/7 multi buyer and multi seller platform. The other platforms are designed as web shops (single seller and multi buyer). At DAO.EU every participant is able to submit a bid and/or offer, gain real-time market information and have new arbitration possibilities. The different platforms powered by Cream have exactly the same modular architecture. This is creating major advantages since all the different players within the dairy business are getting familiar with the trustworthiness, reliability and high level of service provided by Cream.
How much does the platform cost?
DAO.EU charges a brokerage fee on both sides of a market trade:
- SWP: €2.50/MT
- SMP/SMC100%/MPC/Powders: €5.00/MT
- Butter/Cream100%/Cheese: €10.00/MT
How do I get started?
Please sign up and our team will contact you within 24 hours to create an account within a week!
What means the orange colour of the Information icon in Market Depth?
Someone added a comment in the bid/offer.
Where can I adjust my counterparties?
Go to Configuration > Participants.
What does the approx. mean after volume?
Each Member State in the European Union has their own legislation regarding the maximum mass weight. In principal is 1 full container load (FCL) the minimum order quantity (MOQ) on the DAO platform. In the event that it’s not allowed to load/supply this MOQ in the specific country of origin / destination market the MCP conditions are leading. Therefore you don’t need to specify the volume in the comment box when you want to submit a bid and/or offer.
Can I Buy FCA offers on a DAP basis?
No, if you buy FCA it is bought FCA. You can give a counter bid on a DAP basis.
What does ETD stand for?
An ETD, or estimated time of departure, is the month - or date period - in which the product is to be shipped. An order can be placed for any ETD in the future, including the current month. ETD date ranges are shown on confirmations and order/trade info.
What does Splittable mean?
To divide the original volume in different portions. E.g. When you offer 66Mt you can allow max. 3 different counter parties to buy this volume (each 22Mt).
What time reference does DAO.EU use?
Timezones are tailored to the individual user and are updated automatically. A UK buyers’ bid/offer with a valid till time of 3pm will show as 4pm for a Central European user and 5pm for a user from Greece.
You can set your timezone by going to your Profile (User Settings / Profile). Managers can set other users' timezones by going to the Users menu (Configuration / Users).
What is non-tradeable?
All or part of an order is non-tradeable if it can be traded at that particular moment. That is, all relationships, credit limits etc. must be in place. To further clarify, if any aspect prevents a trade from occurring for a given volume, that volume is considered to be untradeable.
These are some of the reasons a quantity of product is not available to trade on:
- Counterparty company is related to your company
- It is your own order
- Your company account is inactive
- You do not have sufficient credit with the seller to complete the trade
- You de-selected the counterparty or the other way around
How can I reset my widgets?
In the User Settings, there is an option to reset all individual customisations of the platform appearance. Select Reset Widget Settings to remove all the customizations made on all of your widgets.
Feedback welcome. For any comments, clarifications, queries or suggestions use the support button.
Why does my Trading Screen look different from that of my colleague's?
You may notice that your view of the Cream platform is different from your colleague's screen. The access to Cream's different modules differs according to each user's role. Role refers to the permissions allowed to your user account. User roles can be any of these three: Manager, Trader, or View Only. Cream Administrators and Managers can set user roles upon creation of a user account and can subsequently edit user roles.
If any problems with your permissions, contact your manager in the first instance or use the support button.
The order I’ve created is no longer assigned to me. How is order ownership assigned?
The owner of an order is the user who either entered the order, or who has subsequently made changes to the order. This means that an order can change its owner over its lifetime.
How does Cream perform order matching?
Order matching is the process of matching offers against bids. This operation is done wholly by the application without need for user intervention.
Cream employs an automated order matching algorithm that matches orders according to the product price, loading details, warehouse, and estimated time of departure (ETD). All working orders are checked for a match and filled on a First-In-First-Out (FIFO) basis based on updated date. Order matching will execute after each offer or bid is placed. This algorithm will continuously search for matching products until any of this situations are reached:
- the order is cancelled
- order validity has expired
- a matching order is found
Matching quantities (including those at a better price than requested) are turned into trades.
Offers that are awaiting a match are displayed in Trading Data / Offers while bids that are awaiting a match are displayed in Trading Data / Bids menu. These pending offers and bids are set to 'Working' status.
Completed trades appear in Trading Data / Trades menu. Note that there can be multiple trades for a single order if it has been set as splittable.
Upon a successful order matching, these background processes occur:
- The buyer company's available credit is reduced
- The individual trader’s limit gets reduced
- If the total order quantity has been filled completely, then the order status is updated to 'Traded'
- A trade is created
- Transactions are created along with double-entry posting
- The company's trust accounting balance is re-calculated, if this is below the minimum balance, then the company account is put 'On-Hold'
A notification email gets sent to both parties.
Register your interest
To register your interest in the DAO platform, complete the fields below and someone will get back in touch with you to initiate the registration process. Alternatively, if you have additional questions, just send us an email at email@example.com.