Government of Bashkiria has entered into an agreement with St. Petersburg International Mercantile Exchange

UFA, 21 May 2015. /Bashinform News Agency, Elvira Latypova/. Cooperative agreement was signed between Bashkortostan Republic Government and JSC "Saint-Petersburg International Mercantile Exchange" at the forum «Big Chemistry» in Ufa. The document was signed by the Deputy Prime Minister Dmitry Sharonov and the Exchange President Alexey Rybnikov.

The agreement was concluded for one year with an extension option.

The purpose of the agreement is development of the exchange trade and implementation of advanced exchange technologies in the region. The exchange-traded instruments are expected to create conditions for market prices formation for timber products, fuel and energy complex, agriculture, engineering and other sectors of the economy.

JSC "Saint-Petersburg International Mercantile Exchange" is Russia's largest commodity exchange. There are 1667 firms among the participants. It organizes real goods exchange trading in the markets of oil products, oil, gas and energy markets, timber and building materials, agricultural products. Trading in the section "Timber and construction materials" are conducted since July 2014, its turnover to the end of 2014 amounted to 66.5 million rubles. The authorized capital of the stock exchange is 435 million rubles.