Market Volume Total (since SPIMEX launch)

Volume (tonnes)40 575 524
Turnover (rubles)1 019 691 457 905

Annual Trade Volumes

YearTurnover (rubles)Volume (tonnes)Number of contracts
2008367 116 08026 54452
200913 238 109 950845 7021 192
201090 097 727 0304 920 9558 717
2011272 507 201 57011 568 12812 553
2012254 463 613 3809 577 45516 949
2013389 017 689 89513 636 74053 893

Following the Federal Government’s order on March 26, 2008 to launch an exchange in St. Petersburg, a constituent meeting was held on April 28, 2008 where it was decided to establish CJSC St. Petersburg International Mercantile Exchange (SPIMEX) and where the Exchange’s management was elected. In June 2008, SPIMEX received a licence to launch exchange trading and managed to set up a world class trading platform in just over three months. September 23, 2008 saw the first trades on the Exchange’s Petroleum Products Section.


Mission:

  • Creating a vertically integrated exchange infrastructure that ensures fair and transparent pricing mechanisms for petroleum products and meets the basic needs of the Russian commodities market in terms of trading, settlement and clearing services.
  • Cost optimization and reduction for commodities market participants.
  • Consistent establishment of trading, settlement and clearing infrastructure for the physical and derivatives markets.
  • Creating an environment for stronger competition on the domestic market of petroleum products, demonopolisation of the industry.
  • Launching commodities trading to foreign participants with transactions conducted in Russian rubles.

In 2011, SPIMEX came up with an online service enabling market participants to register OTC contracts, in compliance with the Federal Law on Commodities Exchanges and Exchange Trading, dated February 20, 1992 No. 2383-1, as revised on July 27, 2010, and with the Order of the Government of the Russian Federation dated February 10, 2011 No. 65 approving Regulations on registering OTC transactions for Exchange Traded Commodities by a commodities exchange, including long-term supply contracts, as well as keeping a Registrar of such transactions and providing data from the Registrar. Currently, all Russia’s major oil companies supply data on OTC contracts to SPIMEX, including Rosneft, LUKOIL, Gazprom Neft, TNK-BP Holding, Alliance Oil, Surgutneftegas, TAIF-NK, Gazprom Neftekhim Salavat and Bashneft.


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