OREANDA-NEWS. July 19, 2013. “St Petersburg International Mercantile Exchange” CJSC (SPIMEX) and the Federal Antimonopoly Service (FAS Russia) signed an Agreement on Cooperation aimed at increasing informational transparency of the market of oil and oil products in the Russian Federation.

On behalf of FAS the Agreement was signed by the Head of the Antimonopoly Service, Igor Artemiev; on behalf of the Exchange – the head of the company Alexei Rybnikov.

According to the Agreement and under the cooperation framework, the Exchange shall provide information to FAS about the current state of the exchange market of oil and oil products:

Information about SPIMEX Indices; possibility of reviewing exchange trade on-line

Daily reports on the results of exchange trading and information about monthly sales of oil products through exchange specifying the economic entities that sell the products

Information about monthly volumes registered in accordance with a Decree of the Government of the Russian Federation “On Approving the Regulations on Registering Off-Exchange Transactions with Exchange Commodities by Exchange” of 10th February 2011

Information on monthly sales of oil products by the producers through Exchange (separately for each type of oil products) specifying economic entities and their membership in a group of persons of a vertically-integrated oil company, the ratio of estimated planned and actual production of each type of oil products by the above companies and delivery basis.

“We expect that our cooperation will make investigations of antimonopoly violations faster and more efficient”, pointed out Igor Artemiev. “We also agreed about joint participation of experts of “SPIMEX” CJSC and FAS Russia in various events aimed at increasing openness and information transparency of the market of oil and oil products”.