DEVELOPING ON-EXCHANGE TRADE IS AN ESSENTIAL ECONOMIC OBJECTIVE
FAS Presidium recognized the efforts of the Antimonopoly Service in this area in 2018 as one of the achievements of the competition authority
Under the frame of the Exchange Committee, FAS together with the Bank of Russia, the Federal Tax Service, the Ministry of Industry and Trade, the Ministry of Agriculture and other interested federal executive bodies, are undertaking measures at “SPIMEX” JSC and “Moscow Exchange” PJSC (“NTB” JSC) to launch and develop on-exchange trading and create transparent price indicators for goods.
Developing a mechanism of transparent pricing in sale of forest resources, agricultural products and mineral fertilizers will enable fair market price formation for goods, currency risks hedging, while economic entities will be able to perform long0term financial planning.
The Exchange Committee approved Road Maps for developing exchange trade with forest resources, agricultural products, power coal and mineral fertilizers. The largest Russian and foreign companies, goods producers and suppliers, participants of financial markets are also involved in this work.
Exchange trading with forest resources was launched in Udmurtia and Buryatia Republics, and the Krasnoyarsk and Primorie territories in 2018.
Last year, 1424 contracts were concluded through the Exchange (+155% comparing to 2017) for supplying 1,388,000 m² (+49% in comparison with 2017) in total for 1.38 billion RUB (+58% comparing to 2017).
In 2018 on-exchange trading was also developing in the Perm territory, the Irkutsk and Novgorod regions; economic efficiency increased to timber price in the off-exchange segment; two base assets were launched – soya and sunflower; trade with sugar and grain were developing; trading with petrochemical products was launched.
The scope of swap and forward trading on the grain market at “NTB” JSC in 2018 increased 7–fold in comparison with 2017 reaching 36.2 billion RUB.
Trading on the sugar market in 2018 increased by more than 8 times to 1.9 billion RUB, the number of clients increased twofold to 300, and volume of soya trading has reached 2.3 billion RUB since launching trade in May 2018 on the single accredited basis.
The number of accredited elevators and sugar warehouses increased to 76 bases.
The Government of the Russian Federation passed regulations, according to which market players setting prices for oil products must use on- and off-exchange quotations along with foreign quotations estimated by foreign analytical agencies (Argus and Platts).
The experience of the Russian Federation for developing exchange trading is reco0gnized as the best practice for establishing common markets of oil, oil products and gas of the Eurasian Economic Space.