SPIMEX has started a series of seminars on exchange trading mechanisms for oil companies 01/22/2016 The St. Petersburg International Mercantile Exchange (SPIMEX) has begun a series of educational seminars for Russian oil companies as part of a training program for participants in the market for deliverable futures contracts for export oil. The first seminars were held for representatives of Gazprom Neft (January 19-20 in St. Petersburg) and Tatneft (January 21-22 at the Moscow office of the exchange). Adviser to the President of SPIMEX Sergey Kvartalnov and Director of Expertica Services Ltd. spoke to the audience. Ian Kilpatrick. The participants of the seminars got acquainted with information on the practical use of new instruments for exchange trading in oil. These instruments will be traded on the SPIMEX derivatives market when a futures delivery contract for Russian export oil is launched. The line of instruments, in addition to the deliverable futures itself, will include a package of accompanying contracts required to manage various types of price risks, as well as implement a wide range of arbitrage strategies, hedging processing margin, flexible collateral management. Taken together, these trading instruments are designed to ensure the formation of a system of interconnected liquid markets led by deliverable oil futures. All this will become the basis for creating a price standard (benchmark) and determining a fair price for Russian export oil in the format of a direct quotation for this product. The speakers also spoke in detail about the most important competitive regions on the "oil" map of the world, about the effectiveness of working with exchange instruments of the oil market in today's price conditions, about various trading strategies. Separately, in the program of seminars, the peculiarities of the work of the trading divisions of vertically integrated oil companies with the named exchange instruments were discussed, the importance of internal organizational and staff support necessary for maintaining and accounting for transactions in this market was emphasized. In the final part of the seminars, the listeners asked the speakers questions, discussed various aspects of trading activities and working with derivatives market instruments. In February-April, the cycle of educational seminars will continue. St. Petersburg International Commodity and Raw Materials Exchange (SPIMEX) is the largest commodity exchange in Russia and organizes exchange trading in the markets of oil products, oil, gas, LPG, timber and building materials, as well as in the derivatives market. SPIMEX is implementing the task of creating a transparent mechanism for the formation of fair prices for basic raw materials. CJSC SPIMEX was registered in May 2008. On November 22, 2013, the Bank of Russia Financial Markets Service of CJSC SPIMEX issued an exchange license No. 077-004. SPIMEX News 01/27/2016 SPIMEX will switch to a new format for registering OTC contracts from January 30, 2016 01/22/2016 SPIMEX has started a series of seminars on exchange trading mechanisms for oil companies 18/01/2016 Specification change Download Archive "SPIMEX" Stock news 02/02/2016 Results of trading in the Petroleum Products Section 02/02/2016 The Russian market is setting itself up for a further fall 02/02/2016 Novak confirmed readiness to participate in consultations with OPEC News archive Tel .: (495) 231-35-35 , 775-84-25 Fax: (495) 699-63-36 E-mail: info@rutec.ru , rutec@rutec.ru