FAS: 90% OF THE 2023 MEASURES OF THE "ROAD MAP" FOR THE DEVELOPMENT OF EXCHANGE TRADING HAVE BEEN COMPLETED
26-12-2023 | 14:08
The document was approved as part of the implementation of the National Competition Development Plan for 2021-2025
The road map for the development of exchange trading was approved on December 23, 2022.
For 2023, 34 measures are envisaged, of which 29 have been completed in full, 2 have been partially implemented and are awaiting legislative approval, 2 have been postponed to a future period, 1 is at the approval stage.
The main ones should be the development of a draft law establishing sales standards on the stock exchange of up to 25 %, which will expand the range of goods and increase their liquidity. The document is currently under consideration in the State Duma of the Russian Federation. For further implementation of the draft law, FAS Russia has already developed a draft methodology for the formation of domestic indicators.
In addition, the authority has formed a list of key goods for which it is necessary to formulate national price indicators.
Mechanisms for selling petroleum products on the derivatives market may be approved in the near future. This will allow companies and consumers to ensure stable sales and purchase of the required volume of fuel with delivery for a certain month: parties enter into a contract under which, within a certain period, one of them must purchase the product, and the other must sell it.
Exchange trading in coal grades D and DG started for the first time. The authority also agreed on trade policies for five coal companies, which provide for the priority of supplies to the domestic market and the use of Russian indicators when pricing coal.
A joint draft order has been developed with a list of goods in the field of petrochemicals. It included petroleum orthoxylene, petroleum toluene, styrene, and synthetic technical phenol. The standard is at least 10 % of sales volumes in the Russian Federation for each manufacturer occupying a dominant position over the past 3 years.
It is also proposed to increase the list of goods for which over-the-counter contracts are registered. It will include several brands of cement with a transaction volume of 20 tons, as well as a number of petrochemical products.
A promising direction for the development of exchange trading is the market for carbon units. In April 2023, SPbMTSB JSC launched a special segment of the over-the-counter market. In the future, an indicator per carbon unit may be generated.
In 2024, the authority plans to continue its work in terms of forming national indicators, increasing liquidity in the gas market, and expanding the range of goods.