The St. Petersburg International Mercantile Exchange (SPIMEX) may become a pilot platform for the creation of the BRICS grain exchange. This is stated in the exchange's message with reference to Alexey Gerasyuk, Vice President of SPIMEX.
During a meeting of the BRICS working group on competition research in the food markets, Alexander Gerasyuk noted that the exchange could become a platform for the implementation of a pilot project of the grain exchange.
At the initial stage, the Vice President of SPIMEX suggested using the expertise of SPIMEX in the development and implementation of both exchange-traded and over-the-counter mechanisms, including the electronic trading system of the over-the-counter market (SET BP).
The participants of the working group also discussed the functioning of the global food chain with a focus on grain trade and the possibilities of improving competition mechanisms to ensure food security.
The St. Petersburg International Mercantile Exchange is the largest commodity exchange in Russia. The Exchange organizes trades on the markets of petroleum products, petroleum, petrochemicals, natural gas, LPG, metals, timber and building materials, mineral fertilizers and agricultural goods, as well as on the futures market.
