Igor Artemyev can head the St. Petersburg International Commodity and Raw Materials Exchange (SPbMTSB JSC)
Igor Artemyev left the post of assistant to Prime Minister Mikhail Mishustin and may take the post of president of the St. Petersburg International Commodity Exchange JSC (JSC SPbMTSB).
Joint Stock Company "St. Petersburg International Commodity Exchange" (JSC SPbMTSB) was created in May 2008 on the initiative of the President of the Russian Federation V.V. Putin and the Government of the Russian Federation. SPIMEX is the largest commodity exchange in Russia; 99% of the volume of organized trading in oil and oil products, gas, timber and mineral fertilizers in our country is carried out through it. Every fourth ton of petroleum products in Russia is traded on the Exchange.
At the end of 2022, more than 5,300 trading organizations and their clients were registered in the sections of SPIMEX.
The SPIMEX line includes more than 5,000 traded instruments of the commodity and derivatives markets. On the Exchange's spot market for petroleum products, trading is organized for all major groups of petroleum products with a wide geography of delivery bases and uniform operating standards for all participants. In addition, liquefied hydrocarbon gases, oil, natural gas, timber, mineral fertilizers, thermal coal, products of the petrochemical market, sugar are traded on the Exchange.
On the Exchange's derivatives market settlement futures for exchange price indices of petroleum products and delivery futures for petroleum products are traded. The exchange is implementing a project to change the pricing system for export flows of Russian hydrocarbons, primarily crude oil. The project envisages overcoming the dependence of the price of Russian oil on external price standards and the transition to direct quotations.