MINSK, 18 October (BelTA)- The Belarusian Universal Commodity Exchange is interested in establishing strong partnership with the Central Bank of Russia and is ready for cooperation in any area related to electronic exchange trading, including settlements and clearing, pricing and monitoring, and the use of credit and financial instruments, Chairman of the Board of BUCE Aleksandr Osmolovsky said during a meeting with a delegation of the Bank of Russia, who arrived in Minsk on a three-day visit to study the commodity exchange market of Belarus and BUCE as a central element of the exchange infrastructure, BelTA learned from BUCE press secretary Roman Yaniv.
"We are fully committed to developing cooperation and sharing all the information you need so that you have a full and comprehensive picture of the exchange commodity market in Belarus and the principles of its work," Aleksandr Osmolovsky said welcoming representatives of the Central Bank of the Russian Federation to the Minsk office of BUCE.
He also noted that BUCE closely cooperates with the leading commodity and currency and stock exchanges of the Russian Federation, both in a bilateral format and within the framework of international exchange associations, including the CIS International Association of Exchanges.
“We keep in touch with almost all the exchanges in Russia, regardless of the market they operate in and the instruments they trade in. Closest to us in spirit is St. Petersburg International Mercantile Exchange (SPIMEX), which, like BUCE, trades in forestry, metal, agricultural and petrochemical goods. We regularly exchange information, best practices and visits, and also jointly participate in the integration projects of the Belarus-Russia Union State and the EAEU,” said Aleksandr Osmolovsky.
According to the BUCE chief, work is in progress on an intergovernmental agreement to create a legal framework for uniform trading sessions and mutual admission of participants to the Belarusian Universal Commodity Exchange and SPIMEX. “In this regard, the visit of representatives of the main regulator of the Russian financial market is of particular importance. We will do our best for your mission in Belarus to be a success,” the BUCE head said.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
