MINSK, 21 October (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) has begun providing data on its exchange price indices for further dissemination through the SPX information and analytics platform, developed by the St. Petersburg Exchange, Russia's largest commodity exchange, BelTA learned from the BUCE press service.
As a result, users of the Russian platform have gained access to over 60 indices that reflect current price trends for five commodity groups, which account for a significant share of BUCE's trade. On the domestic market, these are ferrous metals, round timber, and oilseed meal; on the external market, they are sawn timber and butter. The BUCE indices are updated monthly, and their calculation methodology was developed jointly with experts from the Ministry of Antimonopoly Regulation and Trade, the Economy Ministry, the National Statistical Committee, and the Belarusian State Technological University.
This work was carried out as part of a project to create an international system of commodity market indicators within the EAEU space plus Uzbekistan.
“The transfer of exchange price index data from the Belarusian Universal Commodity Exchange is an important stage in the development of our mutually beneficial cooperation. We continue to strengthen our partnership, creating a basis for the formation of transparent and objective market benchmarks. This will enable us to expand the international indicator system, increasing its informativeness and reliability. It will serve as a dependable tool for market participants from various countries to make well-considered decisions,” Vladlena Rubtsova, Senior Managing Director of the St. Petersburg Exchange emphasized.
In turn, Vitaly Moshchenko, Head of the Analytics and Strategic Development Department at BUCE, stressed that the collaboration was not limited to signing a framework cooperation agreement but immediately moved into a practical phase. “This indicates a high level of interest from both sides in the successful implementation of the project to create an inter-exchange system of indicators. Our exchange is the primary source of objective and reliable information on the exchange and over-the-counter commodity market of Belarus. I am confident that the data we provide will contribute to the further development of mutual trade, as well as to the improvement of the SPX platform, and will bring real benefits to its clients,” he 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.
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