FAS drafts roadmap for developing exchange trading

MOSCOW. July 11 (Interfax) - Russia's Federal Anti-monopoly Service (FAS) has drafted a roadmap for developing exchange trading, the FAS's press service said in a statement.

The FAS proposes creating a system of recognized Russian price indicators for commodity assets that would reduce dependence on foreign suppliers of price information.

The draft roadmap for developing exchange trading envisages expanding the number of commodity and raw materials, namely forest products, aquatic biological resources, petrochemical products, and others.

According to the information, the national plan for developing competition envisages developing a market system for selling natural resources.

"Exchange trading has proven to be an effective market tool that provides a balance between the supply and demand of goods on competitive terms, as well as provides an additional sales channel on digital platforms. Moreover, exchange trading allows for developing competition, transparent pricing, and the possibility of hedging currency risks, as well as the possibility of implementing long-term financial planning for business entities," according to the statement.

The document will be sent to the Russian government in the near future.