mercantilenews
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2009-01-28 |
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First trading transactions of oil products went successfully through CMA’s clearing and settlement system at the St. Petersburg Mercantile exchange
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| CMA announced that trades of various oil products went successfully through CMA’s clearing and settlement system at the St. Petersburg Mercantile exchange |
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Stockholm, September 23rd, 2008. First trades of diesel and jet fuel took place at the Saint-Petersburg International Mercantile Exchange on September 23rd, 2008. The Exchange intends to carry out trading transactions of oil products on daily basis.
The Mercantile Exchange received the trading lisence from Federal Financial Market Services of Russian Federation in May of 2008. Its shared capital is 750 million Rubles. Its shareholders are such industry giants as: “Transneft”, “Transnefproduct”, “Rossneft”, "Gazprom Neft”, “Zarubezhneft”, “Surgutneftegaz”, and large trading and transportation companies such as: “Sovkomflot”, “RZD” as well as such large banks as “WTB”, “Sberbank” and “Gazprombank”. The clearing and settlement is carried out by the daughter company of “Gazprombank” – ZAO RDC – Depository Settlement Company. The clearing and settlement software provided by CMA is based on its own PIE® (Processware Integration Environment) integration platform. Due to this unique technology, the trading is possible between the Exchange, the RDC and the banks in real time. |
