Former MICEX VP Karpov to organize gas trades on SPIMEX
MOSCOW. Oct 15 (Interfax) - Anton Karpov, the former vice president of the Moscow International Commodities Exchange (MICEX), has been appointed the senior managing director of the St. Petersburg International Mercantile Exchange (SPIMEX), where he will organize exchange trades in natural gas, the SPIMEX said in a statement.
Besides implementing the gas trade program, Karpov's tasks will include developing spot technologies for exchange trade: the organization and performance of trades, as well as the development of new instruments, new trade modes, specifications, interaction with clients and a clearing organization.
Prior to his arrival at the SPIMEX, Karpov worked at the MICEX (formerly known as the Interregional Oil and Gas Complex Exchange) for over a decade, where he held various management positions. He resigned as vice president of the MICEX earlier this year but kept his spot on the board of directors.
At the moment, the SPIMEX and the MICEX are vying for the right to organize gas exchange trades in Russia.
The SPIMEX was founded in May 2008 and has been carrying out spot trades in petroleum products since September 2008. Some 90% of exchange trades in petroleum products in Russia are performed on the SPIMEX.