First Vice President of SPIMEX Presented Urals Crude Futures at Sino-Russian Financial Forum

On 26 October 2017, Moscow hosted the Sino-Russian forum on building a cross-border financial infrastructure and boosting of investments within the framework of One Belt and One Road Initiative. 
Mikhail Temnichenko, First Vice President of SPIMEX, presented Russia’s largest commodity exchange and gave an overview of the products offered by it. 
The speaker paid special attention to the physically-settled SPIMEX Urals Crude Futures contract (FOB Primorsk). 
A panel devoted to commodity markets was attended by Anatoly Golomolzin, Deputy Head of the Federal Antimonopoly Service of Russia (FAS), Larisa Selyutina, Head of Securities and Commodities Market at the Bank of Russia, Mikhail Temnichenko, First Vice President of SPIMEX, officials of Bank of China, the Shanghai Clearing House (SHCH), Chinese trading and legal firms. 
According to Anatoly Golomolzin, FAS is in close contact with Chinese anti-trust authorities the aim of which is to set effective market infrastructure for commodity exchanges of two countries. In his opinion, business ties between SPIMEX and Chinese financial institutions are instrumental in launching new price indicators needed for Russia as a key exporter of crude oil and for China as its largest importer.  
Larisa Selyutina highlighted peculiarities of the Russian commodity market and stressed that the Bank of Russia works hand in hand with the market participants and SPIMEX to facilitate access to trading in commodity futures in Russia for overseas companies including those from China.  
The discussion once again demonstrated a profound interest of Chinese investors to the Russian commodity market and risk management tools offered thereby. 
Saint Petersburg International Mercantile Exchange (SPIMEX) is the largest Russian commodity exchange which offers a wide range of products traded both in its Commodities Sections (refined products, crude oil, natural gas, LPG, timber and construction materials) and in its Derivatives Section. The Exchange’s key task is operating a transparent price formation mechanism to ensure fair prices for the commodities produced in Russia. SPIMEX was incorporated in 2008. 


DB query error.
Please try later.