EXCHANGE TRADE WILL BE DEVELOPED IN ROSTOV-ON-DON

This competitive tool will enhance efficiency of trade with mineral fertilizers, petrochemicals and agrarian goods

Rostov OFAS organized a workshop with support of St Petersburg International Mercantile Exchange.

The participants discussed tools for developing on-exchange trade and ways to motivate counteragents to take part in them. Also participants demonstrated the process of registering and doing on-exchange trading, the advantages and disadvantages of using broker services were highlighted.

Vadim Korneev, Head of Rostov OFAS said: “Developing on-exchange trade is specified by of the President of the Russian Federation in No. 618 Order “On the main directions for the state competition-development policy” as one of the priorities. Federal and regional authorities and local self-government bodies must undertake all measures to pursue it”.

Head of FAS Department for Control over Fuel-and-Energy Complex and Chemical Industry, Dmitry Makhonin; Deputy Minister for Agriculture and Food Products of the Rostov region, Olga Mironova; SPIMEX Regional Policy Director, Alexander Gudkov; and representatives of agro-industrial enterprises from the Rostov region took part in the workshop.

Olga Mironova pointed out that the venue for an event on discussing exchange trade was not chosen by a coincidence: “The Rostov region is the leader for harvesting grain crops this year – 20% of export and $5.4 billion”.

Alexander Gudkov expressed hope that “exchange trade will enhance performance of the agrarian sector since mineral fertilizers can be purchased faster, cheaper and in amore convenient manner than now”.

In conclusion, Dmitry Makhonin emphasized that “an exchange trade tool should be in demand not only by sellers but also buyers as an efficient and non-discriminative trading mechanism that will help save money and accelerate deals”.