A New Non-Resident Exchange Member Joins Trades on SPIMEX


Integral Petroleum S.A., a trading and logistics company incorporated in Switzerland, has been registered as a Non-Resident Member at Saint Petersburg International Mercantile Exchange (SPIMEX). The company plans to trade in physically settled SPIMEX Urals Crude Futures (FOB Primorsk) in the Derivatives Section and also to transact in the Commodities Sections of the exchange.  
As a Non-Resident Member, Integral Petroleum S.A. will be able to trade on SPIMEX on its behalf and for its own account as well as for the account of its non-resident clients. 
Admission of new members demonstrates stable interest of international market participants - both in terms of trading and hedging - to the products offered by the Russian exchange and is an essential prerequisite for raising liquidity of the Urals Crude Futures market. 
In this context, representatives of the exchange took part in the Caspian Week 2018 arranged by Integral Petroleum S.A. on the sidelines of the World Economic Forum in Davos in association with International Commodities & Derivatives Association и Lugano Commodity Trading Association. The event was attended by officials of financial institutions and international commodity trading companies. The discussion, among other things, was devoted to a need in transformations of the current crude oil pricing model, a switch to new benchmarks and to the prospects for a direct price quotation for the Urals grade based on the SPIMEX futures contract. 
Integral Petroleum S.A. was incorporated in 2008 in Geneva, Switzerland, and is active primarily in the markets of the Caspian Region, the Caucasus, Central Asia and Central America. It focuses on supply of crude oil, refined products, metals, fertilizers and other commodities from the region to the world markets. 
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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