June 2, 2006
Russian trading system to trade grain futures starting this fall
Russia's stock exchange, The Russian Trading System, is planning to start trading in grain supply futures in fall, the RTS press service said Thursday (Jun 1).
The launch of such trading instruments is supported by the country's financial market regulator, the Federal Service for Financial Markets.
The announcement comes weeks after President Vladimir Putin's state of the nation address, when he said Russia, as a leading oil exporting nation, should establish its own oil exchange to trade crude and petroleum products for rubles.
The statement said RTS would collect a 1-ruble commission for each concluded contract.