FAS discussed exchange trading with cement

“Exchange tradingis an opportunity for new players to enter the market”, said Deputy Head of FAS Andrey Tsarikovskiy

“Attracting new companies on the market naturally leads to developing competition in the sector”, added Stats-Secretary Deputy Head of FAS Andrey Tsarikovskiyб opening a meeting devoted to developing exchange trading with cement in the Russian Federation. The event took place on 29 November 2016 in the Federal Antimonopoly Service.

He emphasized that “the future is in exchange trading. It is at the exchange where a fair market approach to pricing is formed”.

Attendees agreed that trading should not be limited to Moscow and St Petersburg, new participants form other subjects of the Russian Federation should join them. A proposal was made to organize exchange trading supplying goods for export.

President of “Eurocement Group” JSC, Mikhail Skorokhod stressed that all participants will benefit from developing the exchange trading tools. “For the state exchange trading enhances transparency of the cement market, buyers obtain the guarantee of goods supplies and sellers are able to sell their goods through the common trading system at attractive prices determined by the markets”, stated President of the industrial holding.

The parties agreed to submit proposals and comments for FAS, which will enable to take into account the opinion of cement companies as well as experts and buyers in shaping exchange trading.

“The today’s meeting is just the beginning of developing exchange trading with cement and improving its mechanism”, said Head of FAS Department for Industry Control, Nelli Galimkhanova, summing up the meeting results.

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Attendees also included representatives of the largest Russian cement manufacturers and St Petersburg International Mercantile Exchange.