Russia's Federal Financial Markets Service is drafting new regulations for how the country's energy reserves are listed on commodity exchanges.
The new policies are designed to regulate Russia's over the counter derivatives market, Interfax reported Wednesday.
Federal Financial Markets Service Director Vladimir Milovidov told a financial forum: "This is being done to enable us to see the whole mass of information, both for prices and volumes, for those trades that are conducted off the exchanges today. This (information) might not all be in the public domain, but, as indicative, general information, it could serve as a tool for analysis by market participants, to enable them to see the indicative price on the OTC market."
Milovidov added that only around 15 percent of petroleum products trading in Russia is conducted via exchanges and that government regulators have considered registering OTC trading in metals, coal and grain on exchanges as well.
The new policies are designed to regulate Russia's over the counter derivatives market, Interfax reported Wednesday.
Federal Financial Markets Service Director Vladimir Milovidov told a financial forum: "This is being done to enable us to see the whole mass of information, both for prices and volumes, for those trades that are conducted off the exchanges today. This (information) might not all be in the public domain, but, as indicative, general information, it could serve as a tool for analysis by market participants, to enable them to see the indicative price on the OTC market."
Milovidov added that only around 15 percent of petroleum products trading in Russia is conducted via exchanges and that government regulators have considered registering OTC trading in metals, coal and grain on exchanges as well.
