Business news

MINSK, 16 November (BelTA) – The St Petersburg Exchange is interested in applying the experience of the Belarusian Universal Commodity Exchange (BUCE), Chairman of the Board of the St Petersburg Exchange Pavel Ivanov said as he visited the BUCE central office, BelTA informs.

Pavel Ivanov commended the organizational level of trading at the BUCE and did not rule out the possibility of introducing similar approaches in St Petersburg. In his words, BUCE-authored methodology and software solutions ensure the necessary level of competition and transparency in trading, and make the resources equally available for all the competitors.

The St Petersburg Exchange delegation mainly aims to learn more about the work of the BUCE electronic trading platforms and discuss promising avenues of cooperation between the exchanges. During the negotiations, the sides touched upon a wide range of matters: features of trading at the BUCE, technologies, software, ways to monitor contract performance, the logistics of commodities trading, and the BUCE settlement system. The Belarusians also demonstrated the operation of a forestry trading system in real time.

As a result of the meeting, the St Petersburg Exchange and the BUCE agreed to step up cooperation in all fields of mutual interest. They plan to regularly exchange information on the current situation on the commodity markets of Belarus and Russia and consider arranging joint events to exchange experience and best practices in commodities trading and e-trade.

Founded in 1991, the St Petersburg Exchange is Russia’s oldest exchange. It boasts an unrivalled experience in trading commodities, securities, futures, options, and holding auctions and tenders.