SPIMEX Director for North-Western Region Visits BUCE
OREANDA-NEWS. On April 9, Vsevolod Sokolov, Director for the North-Western Region at St. Petersburg International Mercantile Exchange (SPIMEX), paid a business visit to the head office of the Belarusian Universal Commodity Exchange (BUCE). During the talks with the BUCE administration, the sides discussed joint activities within the frames of the Committee for Commodity Markets of the International Association of Exchanges of CIS countries (CCM IAE CIS) as well as the statistics for export sales of timber at exchange auctions. The Russian businessman was particularly interested in exchange logistics services provided by BUCE as well as its ramified network of accredited exchange warehouses. Thus, using this tool, one can easily deliver the goods purchased at the commodity exchange to the remotest regions of the Russian Federation. In this case, the buyer does not have to look for a shipping company to deliver the goods since this service is already included into the price of the lot.
Futures market is another promising area of cooperation between BUCE and SPIMEX. In particular, BUCE is considering the introduction of a new futures contract - for oil indices calculated by SPIMEX - in addition to the existing futures for hot rolled steel coils and steel bars.
On the whole, the parties believe that the current level of relations between BUCE and SPIMEX is quite high but the potential of bilateral cooperation is yet untapped. Therefore, in future there are plans to implement a number of other mutually beneficial joint projects.
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