MINSK, 21 January (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) is expanding the network of brokers in Russia, BelTA learned from the press service of the Belarusian Universal Commodity Exchange.
To increase exchange commodity trade and the number of trading participants from Russia, the Belarusian Universal Commodity Exchange has accredited the third broker in this country. It is Alor Asset Management that has many years of experience in providing brokerage services in Russia and cooperates with such major trading floors as the Moscow Exchange and the St. Petersburg International Mercantile Exchange. With the help of the new broker, BUCE expects to get a significant increase in clients from Russia, and to expand the list of Belarusian products sold on the Russian market through exchange trading.
“Last year a wide range of goods was supplied to Russia. These were mainly butter, milk powder, oilseeds processed products and cement. These commodities accounted for about 80% of export sales. Russian participants regularly purchased semi-finished leather "wet-blue", scrap metal, building materials and foodstuffs through the exchange. Moreover, Belarus has begun selling feed additives to Russia, including L-lysine sulfate, wheat gluten and premixes. This is a new promising area which will be a priority in 2022. We expect that the new broker will help the exchange promote domestic products on the Russian market,” the BUCE press-service stressed.
According to the press service, in 2021 the Russian Federation retained the first place both in the amount of exchange commodity trade with Belarus, and the number of companies accredited at the Belarusian Universal Commodity Exchange. Thanks to a number of measures aimed to attract potential buyers of Belarusian goods from Russian regions, and also close cooperation with the Russian trading mission in Belarus, the share of export transactions in the structure of mutual trade has increased significantly.
Today there are about 60 brokers' organizations accredited at the Belarusian Universal Commodity Exchange, including 16 non-residents from ten countries.