FAS RUSSIA, MURMANSK REGION AND SPIMEX SIGNED AN AGREEMENT ON COOPERATION

The document was signed by Maxim Shaskolsky, Head of the FAS Russia, Andrey Chibis, Governor of the Murmansk Region, and Alexey Rybnikov, President of the St. Petersburg International Commodity Exchange

The agreement was signed on March 29, 2023 during the VII Annual International Forum "Commodity Exchange Market-2023". The document provides for cooperation between the parties in the field of development of exchange trading in the Murmansk region. In particular, we are talking about increasing the level of digitalization of trading in the region through the use of exchange infrastructure. Digitalization of trading will make this mechanism more attractive for commodity producers, which will contribute to an increase in the volume of products sold on the exchange.

As noted Maxim Shaskolsky, Head of FAS Russia, the role of exchange trading is important from the point of view of saturation of the domestic market with goods and price formation in the conditions of supply and demand balance. The trilateral agreement with the Murmansk region is aimed at digitalizing the region's economy, improving logistics, as well as saving budget funds through the use of exchange infrastructure.

Besides, the Agreement provides for the use by enterprises and authorities of the Murmansk region of exchange and over-the-counter price indicators generated by SPIMEX, as well as the organization of activities to improve the level of knowledge of employees in the field of exchange trading, electronic procurement and bidding procedures.

The Agreement is valid until December 31, 2023 with the possibility of extension.