FAS: launch of exchange trading in oil expected in 2016, major volumes to be achieved in 2017
MOSCOW. Jan 28 (Interfax) - The Federal Anti-Monopoly Service (FAS) expects to launch oil exchange trading in 2016 and achieve "major" trade volumes in 2017, FAS deputy chief Anatoly Golomolzin told journalists.
"We are preparing for export trade in exchange-trading mode. The preparatory stage in order to meet these goals is already over. We worked out the corresponding exchange trading rules together with the exchange. They have already been registered on the exchange, approved by the Central Bank of Russia. Now preparatory procedures are underway, a host of companies have undergone the preparatory measures, other companies are engaged in preparing for exchange trading on the oil market. I assume that we will be able to launch this trade in 2016 and beginning in 2017 will achieve major volumes of oil trading on the market," he said.