SPIMEX and SOCDA Sign Memorandum of Understanding


On 24 January 2018, the Saint Petersburg International Mercantile Exchange (SPIMEX) and the Shanghai OTC Commodity Derivatives Association (SOCDA) signed a memorandum of understanding entitled Cooperation for Stimulating Collaborations between Chinese and Russian Companies in Commodity Field. The ceremony held in Shanghai was attended by members of a representative delegation from Russia which included officials of the Anti-Monopoly Service of Russia (FAS), Gazprom Neft, Tatneft and Transneft. 
SOCDA is an SRO focusing on OTC commodity derivatives markets in China. The memorandum shall promote business ties between Chinese and Russian commodity companies and development of cross-border commodity indices and derivatives in energy field. 
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.

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