The financial market attracts a large number of people with its possibilities, as it seems to them, of fast, simple, and convenient high earnings. However, according to statistical data, such hopes are completely unjustified, since most of them lose their money. This is due to the fact that many users do not take trading on the stock exchange seriously and treat trading as if it were a game.

To really make money in the financial markets, you need to undergo special preparatory training and learn how to choose trading assets correctly. Each exchange commodity has its own characteristics, properties, profitability and, one might even say, “character”. The reader will learn from this article what is traded on financial markets and how it happens.

Definition of a commodity exchange

Before plunging into the alluring world of trading, you need to understand what financial markets are and their features, and have information about the trading assets that are used in them. It is absolutely impossible to trade profitably and stably if you do not understand what a currency, stock or commodity exchange is, as well as the principles and patterns of its operation. Each direction of the financial market has its own characteristics, which must be taken into account when choosing both an asset and a type of trade. For example, in Forex, currency pairs are used as instruments, and in the stock market - securities, company shares, and bonds.

By definition, a commodity exchange is a specialized platform on which financial exchange transactions take place literally every second. By and large, this is a regularly operating wholesale market with high competitiveness, liquidity and volatility. Due to supply and demand, purchase and sale transactions are constantly taking place on it. All transactions occur according to certain rules, and exchange commodities used as trading assets are always interchangeable products and their derivatives.

History of origin

In the 15th century, when the first exchanges appeared, there were no separate buildings allocated for them and all transactions took place in a specially designated area. In 1409, the world's first stock exchange was opened in the city of Bruges. Stock trading appeared a little later, in the 16th century, and at the same time buildings for exchanges were built, which gradually developed in Europe. In the United States, this type of trade gained popularity only in the 19th century. This is due to the fact that it was at this time that the intensive growth of capitalism began in the United States.

In the Russian state, the first commodity and raw materials exchange appeared at the beginning of the 18th century on the orders of Peter I. Its existence lasted until the beginning of the 20th century, and then the revolution began and completely different priorities were set in the country due to the peculiarities of the economic policy of the USSR. However, with the development of market relations, Russian legislation was revised and the work of exchanges was resumed.

Commodity assets

Almost all over the world, on commodity, industrial and raw material exchanges, agricultural and extractive natural products, as well as their derivatives and contracts, are used in financial purchase and sale transactions.

Types of exchange goods:

• Food products (sugar, potatoes, nuts, coffee products, eggs).
• Cereals (corn, wheat, rye, rice, oats).
• Oil-containing assets (sunflower seeds, flax seeds, beans, soybeans).
• Wool, cotton, satin, linen, silk and other textile products.
• Livestock products (cattle and pork, meat and livestock).
• Rubber.
• Non-ferrous metals (gold, zinc, nickel, silver) and other types.
• Forest products (fibreboard, plywood and other industrial raw materials).
• Natural resources such as oil, gas, coal and their derivatives.
• Black metals.
• Pulp and paper products.
• Non-ferrous and ferrous ore and others.

Types of exchanges

All exchanges operate in two directions. According to historical data, initially there was no division between them, but gradually it appeared due to the development of the world economy, the scaling of trade and technological progress. Each direction has certain properties and features, as well as a narrow specialization of exchange goods.

There are 2 types of exchanges:

1. Universal direction.
2. Specialized types.

What is traded on exchanges? From the above list you can understand that almost any product finds its seller and buyer. However, not all of them have the same trading characteristics. Some assets have greater liquidity, which means they are more in demand on exchanges, while others, vice versa.

The largest volume of transactions occurs in the universal direction. For example, the Chicago Board of Trade or the Chicago Mercantile Exchange, where commodities are traded, ranging from various foreign currencies, lumber, precious metals, industrial and grocery goods, to sales and purchases of live animals.

Specialized exchanges have a narrower focus. They are divided into certain groups. For example, on the New York Stock Exchange, transactions take place on coffee products, grain crops and food products, and on the London Stock Exchange, metals are bought and sold.

Exchange trading

Specialists who make money in financial markets through speculative trading are called traders. They buy commodities at a lower cost and sell them at a higher price. The difference between buying and selling is the income from the transaction for the trader.

Many beginners, having seen and heard various stories about speculative trading and high earnings, want to learn how to make money on the stock exchange. If a person decides to devote himself to trading, then he needs to undergo basic training in order to understand the rules by which exchange trading occurs.

Speculative trading

In fact, in fact, traders do not physically buy or sell anything, but only speculate on assets, that is, on their decrease and increase in prices. Next we will look at an example of how to make money on the stock exchange.

Before starting trading, all traders conduct an analytical forecast of changes in market quotes for selected assets. This is done in order to understand in which direction the price will move and open a buy or sell position in the same direction. For clarity, we can consider an example of an exchange transaction.

Let's say a trader has determined that during the day the trading asset he has chosen will decrease in price. He places a sell order and opens an exchange transaction. If his forecast is correct, then he will be able to earn a certain amount of money, which depends on the volume of the speculator’s position and the value of the asset.

Financial risks

On any exchange where speculative trading occurs, there are always risks. This is due to the fact that it is impossible to say and predict with one hundred percent certainty when and where exactly market quotes will move, that is, go up or, conversely, go down. For a speculator, an accurately compiled forecast is a guarantee of his earnings. If the trader’s analytics are correct, only then will he be able to make money.

Each financial transaction taking place on the stock exchange is insured by a speculator using a special instrument, a protective stop-loss order. In the event that the forecast in the direction of market movement is made incorrectly, then, having reached a certain level specified in the parameters of the protective order placed by the speculator, the exchange transaction will be closed automatically and the loss on it will stop. Of course, the trader will lose some of his funds, but the main amount of his balance will remain. Therefore, professionals advise all beginners to trade with financial risks of no more than 2% of the deposit.

Functions of commodity, stock, currency and raw materials exchanges

Exchanges provide not only services for speculative transactions through which traders earn money, but also fulfill their main responsibilities and tasks:

1. They are engaged in pricing of exchange-traded goods, which are then used to analyze the level of supply and demand for assets.
2. Their functions also include monitoring, regulation and control over the obligations of sales contracts and checking the mutual settlement system.
3. In addition, hedging occurs on exchanges, that is, insurance and guarantee for exchange assets.
4. Additional functions include the following services: speculative trading; financing and arbitration; investment and other opportunities.

Conclusion

For activities on exchanges, a wide variety of trading assets are used, which are divided into several areas. They open up earning opportunities not only for large commercial banks, funds and companies, but also for private investors, as well as medium and small speculators. To earn income using exchanges, you need to know its operating rules, as well as be able to evaluate and select exchange assets.

NYMEX(New York Mercantile Exchange) - New York Mercantile Exchange, the world's main market for trading oil futures. Includes the exchange as a division and is part of.

“House of Energy Contracts” is the unofficial name of the exchange.

The main percentage of trading is oil, but in addition, the NYMEX New York Mercantile Exchange deals with other energy carriers and energy resources: gas, coal, electricity, ethanol, palladium and platinum. The exchange's assets even include carbon dioxide emissions.

Since the NYMEX exchange is merged with the COMEX and they operate under the same name NYMEX, underlying assets second ( gold, silver, copper, aluminum, etc.) on various Internet resources are included in the list of NYMEX assets and, ultimately, they all appear in the lists of trading instruments CME Group.

As a major player in the oil derivatives market, the New York Nymex Exchange has a daily trading volume of ( Crude Oil Futures Contract Specs, CL) - about 2,500,000 transactions. Another oil contract, Brent Last Day Financial Futures ( BZ), traded in a volume of 200,000 transactions. Large numbers are also shown in natural gas futures trading ( Henry Hub Natural Gas Futures, NG) - 2,000,000 transactions.

The NYMEX exchange does not have an official website as a separate Internet resource. Instead, it is proposed to use the CME Group website, which combines materials on the New York and Chicago exchanges.

The best brokers for investing in stocks

• eToro

The broker offers a huge number of shares. Most brokers strive to provide access only to the most popular NYSE or NASDAQ, but FinmaxFX has a huge number of European and Asian stocks, a large number of indices, and of course, securities from American exchanges, including domestic companies. The broker provides a professional trading platform and the best conditions.

Adjustable VFSC and in Russia TsROFR. Recommended initial deposit $250-300 .

Official site:

Owned by a broker who has been in business for over 20 years. The platform itself is under the control of European regulators CySEC And MiFID. Here you will find a huge number of stocks, stock indices, ETFs and more.

The broker offers a huge asset base, an academy (training programs), constantly conducts webinars, provides analytics and has a very convenient trading platform to which a large number of indicators are connected. The platform itself has a block with the latest news and forecasts in Russian. Minimum deposit $200 .

Official site:

Structure of the New York Stock Exchange

For more than 20 years under the name NYMEX(NYMEX Holdings) two practically independent exchanges, and in fact divisions, are “hiding”:

• NYMEX Division
• COMEX Division

Their interaction is the work of two halves of a single holding. The merger of NYMEX and COMEX in 1994 was something few could have imagined: these are two long-time rivals, in addition, historically the New York Mercantile Exchange was much inferior in scale to Commodity Exchange Inc. and for a long time the latter looked down on the former.

With Nymex's rise to prominence and its merger with another New York-based futures trading giant, a new derivatives heavyweight has emerged. Today, both divisions of the New York Futures Exchange perfectly complement each other: one specializes exclusively in metals, the other primarily in energy resources.

NYMEX Opening Hours

NYMEX opening hours start at 8:10 New York time (+7 hours for Moscow in summer and +8 hours in winter). Closing of work at 15:20. The exchange operates 5 days a week, from Monday to Friday. Trading on an electronic platform CME Globex carried out almost around the clock. All the necessary information and data about the work of NYMEX is provided by the official website of the CME Group. The only negative is the lack of a Russian version of the web resource.

History of the NYMEX Exchange

In the mid-19th century, traders began to resort to the creation of market forums to ensure standardization of business and establish quality and price standards. Around the same time, the NYMEX exchange was formed, initially as a place for trading butter and cheese.

Thus, a group of entrepreneurs from Manhattan decided to restore order in the trade in farm products.

• 1872- The New York Commodity and Raw Materials Exchange Butter & Cheese Exchange of New York was founded. A little later, the name changed to Butter, Cheese & Egg Exchange, as a chicken egg appeared in the list of products.
• 1882 - the official establishment and receipt of the name NYMEX New York Mercantile Exchange, the beginning of trade in poultry, fruits, and canned goods.
• 1978 - the start of trading in fuel oil (from the hands of company president Michel Marx and economist Arnold Seifer), which gave rise to the introduction of a large number of energy resources (oil, gasoline and gas) into the list of exchange assets.

It is worth noting: energy trading, which initially had modest turnover, quickly increased it, and the NYMEX business began to pose a threat to oil corporations and government groups accustomed to independently controlling the cost of petroleum products.

• 1993 - launch of the NYMEX ACCESS electronic trading platform.
• 1994, August 4- merger with the previously independent COMEX exchange under the common name NYMEX Holdings Inc. From this moment on, both exchanges are divisions of the united New York company.
• 2006 - Russian oil appeared among the trading assets of the exchange, the start of using the Globex electronic trading platform from the CME Group. Thanks to the introduction of electronic means, NYMEX trading hours become almost 24/7 for traders. In the same year, 216 million transactions were concluded on the exchange, and the company’s net profit amounted to more than $154 million.
• 2007 - the beginning of the sale of Russian oil for rubles.
• 2008- NYMEX, consisting of two divisions, is absorbed by the exchange holding company CME Group. The transaction amount was $11.2 billion (in cash and shares). The COMEX and NYMEX continue to remain separate as separate exchange sections within the largest financial derivatives market in North America. NYMEX quotes have a decisive influence on the formation of world energy prices.

NYMEX headquarters is located in New York, at 300 Vesey St., on the Hudson River embankment:

Functions of the New York Futures Exchange

Nymex is a multifunctional exchange that plays a colossal role in global commodity turnover, primarily in energy resources. Its main functions:

• control of speculation in any transactions on the commodity exchange;
• mediation between the seller and buyer of goods: providing a place for trading and opportunities for meeting buyers and sellers;
• insurance through derivatives trading instruments, price adjustments, risk reduction for trading participants.

In addition to the main ones, the exchange performs a number of auxiliary functions: develops standard contracts for transactions, offers consultations to exchange participants, NYMEX quotes have a significant impact on market supply and demand, the exchange allows you to save time in settlements, standardizes the quality of traded goods and establishes trading rules.

NYMEX Assets

Currently, the New York Futures Exchange conducts trading on 500 types of transactions, which are divided into 3 groups:

1. Energy resources(Energy)
2. Metals(Metals)
3. Agricultural crops(Agriculture)

The first is disproportionately larger than the other two. Each group includes subgroups of varieties of commercial instruments. For example, the Energy group includes such subgroups as Electricity, Crude Oil, Natural Gas, Refined Products, Biofuels, Coal, Petrochemicals oil), Emissions (e.g. carbon dioxide). Each of the subgroups includes its own commodity instruments. The main part of all transactions on the stock exchange is oil.

• When talking about the NYMEX exchange, we can mean both a separate division of the New York Exchange and the entire company, including the COMEX base metals exchange. Therefore, it is important to understand that NYMEX's products include, for example, gold and silver, but these futures are traded within the COMEX framework, while NYMEX's metals division trades derivatives only in palladium and platinum and is largely focused on energy contracts.

NYMEX crude oil futures

Crude Oil Futures Contract Specs (CL) includes an agreement to purchase 1,000 barrels of oil for US dollars and cents at a minimum cost of $0.01 per barrel. Traded from 6 pm to 5 pm the next day on the CME Globex New York time or one hour back in Chicago time. This futures is one of the most actively traded in the world.

NYMEX Natural Gas Futures

Henry Hub Natural Gas Futures Contract Specs (NG) is a contract to purchase 10,000 mmBtu ( million British thermal units or millions of British thermal (thermal, thermal) units) at a minimum price of $0.001 per unit. This financial contract does not have a long history and has only been traded since 1990. Nymex became the first exchange on which traders were able to work with natural gas derivatives.

NYMEX Gasoline Futures

In the US, gasoline is one of the most actively sold products. Among the trading instruments of the New York Mercantile Exchange are futures for gasoline brand RBOB (RB) and other types of contracts with this gasoline (OB, RBB, RL), futures for gasoline NY Harbor ULSD (HO) and others.

Platinum futures on the Commodity Exchange

In trading financial derivatives on platinum, the Nymex exchange is a pioneer. (PL) is a contract to buy 50 troy ounces of metal at 0.10 US dollars per ounce ( minimum cost). The importance of platinum for the industry cannot be overestimated, and futures for this metal are an excellent investment tool.

Palladium futures on the New York Mercantile Exchange

Palladium Futures Contract Specs (PA) - a contract to purchase 100 troy ounces at a minimum price of $0.05 per ounce. It is considered an exotic financial instrument.

Oil for rubles within the NYMEX

In 2006, Russia planned to create a new financial instrument - oil futures REBCO(Russian Export Blend Crude Oil) and conducting trading on the New York Mercantile Exchange with the prospect of further creating a domestic Russian oil exchange. The last one was created ( St. Petersburg International Commodity and Raw Materials Exchange) and today is the largest commodity exchange in the Russian Federation. The REBCO futures turned out to be a failure: no deals were concluded in 2006-2012, and in 2013 the updating of quotes stopped.

Conclusion

Despite merging with the Chicago Derivatives Market and becoming part of the CME Group, the New York Mercantile Exchange remains one of the major players in the oil financial contracts market on a planetary scale. Oil is the main energy carrier of the 20th century, which does not lose its position in the 21st century. The NYMEX exchange allows sophisticated traders to turn the world's demand for oil, as well as other resources and metals, into money.

If you find an error, please highlight a piece of text and click Ctrl+Enter.

The article contains information about the activities of the St. Petersburg International Commodity and Raw Materials Exchange. Its mode of operation, rules and course of trading, servicing brokers of St. Petersburg International Trading Exchange and available tools are described here.

Short story

For the first time, the closed joint-stock company St. Petersburg International Commodity and Raw Materials Exchange was registered in May 2008. The first trading in jet fuel and diesel fuel at St. Petersburg International Export Exchange took place on September 23, 2008.

Today, the joint-stock company St. Petersburg International Commodity and Raw Materials Exchange (JSC SPbMTSB) is one of the largest Russian commodity exchanges. The Bank of Russia Financial Markets Service issued it license No. 040-004 in November 2013.

Exchange work

The St. Petersburg Oil Products Exchange operates according to the following schedule:

From 10:45 to 11:00 – work on accumulating user requests.

From 11:00 to 13:00 - a two-way counter auction for the nomination of bids by anonymous participants in the ETS (electronic trading system).

From 14:00 to 20:00 – the process of issuing documents based on the results of the current day trading.

SPIMEX is represented by the following markets:

• petroleum products;
• index and futures trading;
• gas;
• crude oil;
• forests;
• coal;
• agricultural products, grain;
• information products.

Basic concepts of stock trading

In the market, everything depends on supply and demand. If a commodity is scarce and demand is high, prices rise. And on the contrary, if there is a surplus of goods and there is a lot of it, and demand is low, prices fall. Traders playing on the stock exchange are, as it were, intermediaries between these values.

In the bidding process, the concept of “lot” is used, showing the commodity quantity purchased or sold in one transaction.

The main indicator in the work of traders is not the amount of money earned, but the amount of money that was lost.

The main person on the stock exchange is the broker - this is the one who receives orders from external clients. The beauty of trading is its dynamics, with the broker acting as the conductor. Very often the course of market trading becomes unstable. To make the process a little more manageable, trading exchanges have an arsenal of mechanisms and trading tools.

Delivery versus payment as a new instrument

The St. Petersburg Oil Products Exchange SPbMTSB announced a new almost revolutionary project “Delivery versus payment”, its other name is “Commodity Supply Operator”. The initiator of this approach was the FAS in order to obtain an indicator of small wholesale prices in addition to the indicators of large wholesale and retail prices. Its purpose is to speed up trade turnover at oil depots in small wholesale.

Previously, on the commodity and raw materials exchange, according to the established procedure, it was possible to trade on a “ex-reservoir” basis or on a “pickup” basis, while the contract period was defined as (T+10), that is, the time from the conclusion of the transaction to the day of its implementation. Now, a new participant in the trading process is introduced between the seller and the buyer, called the commodity supply operator, who carries out settlements for the goods.

In real time, online payments are made through the RTK terminal and for goods through the commodity supply operator. Previously, the buyer had to first make a 100% advance payment for the product, then wait about thirty days for delivery of the purchased product. During the time that the goods were loaded, delivered, unloaded, its price on the stock exchange also did not stand still, but grew. As a result, the buyer had to pay much more than the original contract price. The St. Petersburg Petroleum Products Exchange, with its innovations in online trading, has made it possible to increase the speed of funds turnover by an order of magnitude. This provides an obvious advantage. In addition, SPbIMEX brokers provide a high guarantee of the transaction due to the fact that all payments are made through a central operator and not directly.

New schemes on the sales market

Any price is a product of the non-resistance of the parties to the transaction and during exchange trading is regulated only by the supply and demand of raw materials. An important advantage of the new electronic tool is that the operator does not have one specific supplier, there are many of them, and the position of the seller and the buyer changes quickly. At any time, the buyer can act as a seller, and the seller can act as a buyer.

The progress of trading with the introduction of the new system makes it possible for a market participant who has a cash gap and has inventory balances, for example at an oil depot, to raise money in real time against the security of these balances using a repo scheme, which means a purchase with an obligation to resell.

Services of JSC SPbMTSB

The St. Petersburg Petroleum Products Exchange provides clients with a new service, “leveraged transactions with preliminary collateral,” which is otherwise called margin lending. Transactions with leverage significantly increase the purchasing power of participants (a multiple of the established leverage).

Depending on the leverage, for every ruble the client is willing to invest in a product, SPbIMEX brokers add their own funds. Thus, leverage is a kind of lever for the client, applied at the right time of trading to increase his working capital. The St. Petersburg Oil Products Exchange is very loyal to customer acceptance. At a bank, a merchant may be denied a loan, but here, trading with margin leverage, in fact, he always receives it.

In this new product, employees of JSC SPbMTSB incorporated the principle of transparent pricing, based on a transport differential that is clear to all trading participants, on stock indices and on a dealer margin previously agreed upon with the client. All this forms the final price of raw materials, for example, at an oil depot. In this case, the broker’s commission is deducted from the value for the “negative balance” (the difference between the transaction value and the pre-deposited asset) in accordance with the specified leverage, which is approximately fifteen percent. To receive the goods, the buyer must pay the remaining cost. Every day, until the transaction is fully settled, brokers charge the client a commission for storage services at current prices. The price of the product does not change.

Prospects for the development of the Russian raw materials market

There will certainly be development in the raw materials sector. An action plan for the Exchange Committee for 2017 was signed with clear tasks and deadlines, which is monitored by the FAS and the Ministry of Energy.
As part of this project, the St. Petersburg International Commodity Exchange began developing a tool for selling undrawn volumes of petroleum products for the current reporting period.

general information

The shareholders of the exchange include: Transnefteproduct, Gazprom Neft, Rosneft, Transneft, Zarubezhneft, Surgutneftegaz, Tatneft, Russian Railways, Sovcomflot and others.

Today, SPIMEX organizes exchange trading in real goods in the markets of petroleum products, oil, gas, timber and building materials, and in fixed-term contracts. On the spot market for petroleum products of SPbMTSB JSC, trading is organized for all main groups of petroleum products, with a wide geography of delivery bases and uniform operating standards for all participants. The SPIMEX derivatives market trades settlement futures for exchange price indices of petroleum products and delivery futures for petroleum products

The strategic project of the exchange is the organization of trading in deliverable futures contracts for Russian Urals export oil. Trading started on November 29, 2016.

The trading volume on the petroleum products market, as well as certain categories of goods produced from oil and gas, in 2016 amounted to 17.16 million tons (gasoline, diesel, jet fuel, fuel oil, etc.). The trading volume on the derivatives market in 2016 was RUB 2.475 billion. In 2016, about 16.81 billion cubic meters of gas were sold on the exchange.

SPbIMEX is the main platform for exchange trading of petroleum products in Russia. [ ]

Indexes

Territorial indices are calculated for the three largest domestic markets for petroleum products - the European part of Russia, the Ural-Siberian region, Eastern Siberia and the Far East.

Regional indices- indicators for the largest regions of petroleum products consumption.

Composite index- a single universal indicator of the petroleum products market, reflecting the dynamics of changes in the cost of an average ton of light petroleum products on the exchange market. Calculated based on exchange transactions.

National indices- Russian average prices for petroleum products.

Crude Oil Market

In 2016, oil sales volumes, taking into account tender procedures, through the Torg-i electronic platform amounted to 2.59 million tons. Including sales volumes in the Oil Section of SPbIMEX JSC amounted to 481 thousand tons in the amount of 6.34 billion rubles.

Derivatives market

Futures contracts are traded on the SPIMEX derivatives market.

There are currently more than 20 different series of futures trading. The trading volume on the derivatives market in 2016 amounted to more than 2.475 billion rubles (48.63 thousand contracts).

Derivatives market instruments

More than 10 different types of futures contracts are traded on the SPIMEX derivatives market, including:

1. Deliverable futures contracts for Russian Urals export oil.
2. Settlement futures for petroleum product price indices.
3. Deliverable futures for petroleum products.

The underlying assets of futures are oil, summer and winter diesel fuel, Regular-92 Gasoline, Premium-95 Gasoline, as well as petroleum product price indices.

A distinctive feature of futures contracts on the SPIMEX exchange is the possibility of real physical delivery of the underlying asset.

Risk management system (RMS)

In order to ensure the fulfillment of obligations under a futures contract, the participant is obliged to provide security - Deposit Margin. The clearing organization uses the SPAN® methodology to calculate the deposit margin requirement.

Delivery futures contracts for Russian Urals export oil

On November 29, 2016, trading in delivery futures contracts for Russian Urals export oil began on delivery terms FOB Primorsk port.

The exchange contract is intended to lay the foundations for a new pricing mechanism for Urals oil through direct market price formation, without reference to other oil benchmarks.

The nominal value of the contract is 1000 barrels, the delivery lot is 720 thousand barrels (100 thousand tons), the contract currency is US dollar.

Legal entities and individuals, as well as foreign participants, are allowed to trade in oil futures. Legal entities - residents and non-residents - are allowed to deliver.

Futures are executed by the delivery of oil, which provides a link to the physical market and also prevents price manipulation. Delivery is possible through the EFP (Exchange of futures for physicals) mechanism.

Gas market

As part of the implementation of the order of the President of the Russian Federation on the organization of trading in natural gas, on October 24, exchange trading in gas was launched at St. Petersburg International Trading Exchange.

Trading is organized at the balance points of Nadym CS, Vyngapurovskaya CS, Yuzhno-Balykskaya CS, and Parabel CS. Participants in exchange trading are the largest gas producers and leading enterprises in the electric power industry, agrochemicals, and metallurgy.

In October 2015, trading in instruments with delivery “on a daily basis” began, in October 2016 – in instruments with delivery “on non-working day n”.

In 2016, 16.81 billion cubic meters of natural gas were sold on the exchange (119.8% more than in 2015).

Forest market

As part of the implementation of the order of the President of the Russian Federation to organize exchange trading in timber, on July 11, 2014, exchange trading in timber was launched at St. Petersburg International Trading and Export Exchange in the Section “Timber and Construction Materials”. Trades in coniferous roundwood are carried out on the basis of the Irkutsk region. More than 60 participants were registered at the auction - large forestry enterprises, forest leaseholders and timber processing enterprises. The Exchange's immediate plans include further expansion of the range and geography of trading with the subsequent organization of exchange trade in timber for export.

In 2016, 32.25 thousand cubic meters of timber were sold, and 108 exchange contracts were concluded.

Registration of over-the-counter contracts

SPIMEX is authorized to register over-the-counter contracts with the following goods:

• petroleum products;
• crude oil;
• natural gas;
• coal;
• corn.

The exchange calculates over-the-counter indices based on registered contracts.

In the field of registration of over-the-counter SPIMEX agreements in 2016, the following indicators were achieved: 397.7 thousand commodity items with a total volume of 252.7 million tons were registered for petroleum products, including 48 thousand commodity items for liquefied hydrocarbon gases with a total volume of 6.8 million tons , for crude oil - 13.6 thousand commodity items with a volume of 581.9 million tons, for gas - 9.8 thousand commodity items with a volume of 265.5 billion cubic meters, for coal - 18.3 thousand commodity items with a volume of 663 million tons . The number of companies registering transactions on the stock exchange increased by 152 in 2016, reaching 270.

Information Products

• SPIMEX is a center for generating price information on the oil and petroleum products market, systematizing it and providing it to both regulators and all market participants.
• The exchange has created a system of information services and products aimed at promoting exchange information and increasing the transparency of pricing in the domestic oil and petroleum products market.
• Since June 2013, the commercial provision of information services has begun not only to clients of the exchange, but also to other participants in the domestic oil and petroleum products market.
• At the end of June 2013, a Cooperation Agreement was concluded between the FAS Russia and SPbMTSB JSC, aimed at increasing the information transparency of the oil and petroleum products market in the Russian Federation.
• In June 2016, a cooperation agreement was concluded between the Ministry of Economic Development of the Russian Federation and SPIMEX, which is aimed at increasing the information transparency of the markets for natural gas, oil and petroleum products in the Russian Federation.
• SPIMEX information services are in demand not only among Participants in exchange trading in petroleum products, but also among information and analytical agencies.

St. Petersburg International Commodity and Raw Materials Exchange

Closed Joint Stock Company "St. Petersburg International Commodity and Raw Materials Exchange" (CJSC "SPbMTSB") is an organization with the rights of a legal entity that forms the wholesale market by organizing and regulating exchange trading, carried out in the form of electronic trading conducted in a predetermined place and at a certain time according to the rules established by it.

The main goal of exchange trading is to create market pricing mechanisms for the entire line of goods admitted to exchange trading. The classic pricing mechanism works according to the following scheme: on the exchange, sellers and buyers interact with each other anonymously, that is, without seeing each other. Some declare their goods for sale, indicating the offer price, others declare their intention to buy this product, forming the demand price. The seller wants to sell the product at the maximum price, and the buyer seeks to lower the price. However, the seller’s desire to sell the product pushes the supply price down, and the desire to purchase the product forces the buyer to raise the demand price. At some point, the prices in the bids of the seller and the buyer intersect, as a result of which a transaction is concluded that reflects the real market conditions for a specific product. This is the most transparent and objective mechanism for selling goods at a fair price.

In order to meet the needs of the main operators of the domestic petroleum products market and provide them with a fair pricing mechanism through organized trade in goods and the receipt of a full range of information services, within the framework of SPbMTSB, the Petroleum Products Section was created on the basis of an integrated software and hardware platform.

Secondly, the created system is universal and allows you to build effective interaction with SPbMTSB and other commodity platforms, as well as with various delivery controllers for various types of goods. The development plans of SPbMTSB include projects for organizing exchange trading not only in petroleum products, but also in metals, grain and building materials.

On December 17, 2010, the first trading in deliverable futures contracts for summer diesel fuel for 3 and 6 months took place in the Section. The contract size is 1 ton, the minimum delivery quantity is 60 tons. Shipment is made by rail from oil refineries located in Moscow, Nizhny Novgorod, Ryazan, Yaroslavl and Samara. The contract price is tied to the Vladimir railway station, and the delivery of goods is carried out with the price recalculated to the basis of the actual shipment, taking into account transport costs. The pre-delivery trading session, following which pairs of counterparties for the supply of petroleum products were formed, was attended by Trans-Oil Management Company LLC, as well as clients of Alor Invest CJSC - Novotek-Trading LLC and GD Commodities LLC, and the client OJSC BD Otkritie - INVESTPRO LLC.

The total volume of positions opened by trading participants and brought to delivery amounted to 300 tons of DTL. For 240 contracts, agreements were drawn up for the delivery of the underlying asset from oil refineries located in Nizhny Novgorod and Ryazan until April 16, 2011, the remaining contracts were closed by settlement at the settlement price of the futures on the last trading day - 22,830 rubles per ton.

During the first calendar month of work in the Derivatives Market Section, 733 transactions were concluded with a total volume of 37.8 thousand contracts or 832.5 million rubles; 24 companies from among the most active representatives of the Russian commodity market, the largest financial brokers, acquired the right to participate in trading and investment companies.

Links

• Info center: Market indicators, Inventory balances, Trading progress, Trading results, Auctions, Informers
• Participation in auctions: organization of auctions; How to get involved; brokers; technical access; rates; lending

Sections

• Sections and documents: General exchange, Petroleum products, Agrochemicals, Grain, Timber, Energy, Derivatives market

Trading progress and indices

Categories:

• Organizations by alphabet
• Exchanges
• Moscow companies
• Companies of St. Petersburg
• Economy of St. Petersburg
• Economy of Moscow
• Economy of Russia
• Commodity exchanges

Wikimedia Foundation. 2010.