Saint Petersburg Stock Exchange
|Location||Saint-Petersburg, Russian Federation|
|Currency||Russian Ruble, United States Dollar, Euro|
|Volume||US$1.381 trillion (Jan - Sep 2011)|
The Stock Exchange Saint-Petersburg (SPBEX) is located in Saint Petersburg, Russia. The stock exchange was founded on January 31, 1991, and it is now the third most active stock exchange in Russia by volume, and the largest outside of Moscow. SPBEX is located on 26th Line near Bolshoi Prospekt on Vasilievsky Island.
Open Joint-Stock Company “Saint-Petersburg Exchange” became the legal successor of the Stock exchange “Saint-Petersburg”. OJSC “Saint-Petersburg Exchange” possesses:
- A license of Financial Markets Federal Agency № 078-10457-000001 of 02.08.2007 for realization of activity in the form of Stock Exchange
- A license of Commodity Exchange Commission № 96 of 13.06.98 for organization of exchange trade in Russian Federation.
History of the Saint-Petersburg Exchange
The Stock exchange “Saint-Petersburg” was founded in accordance with requirements of the Federal Law “On Securities Market” on the basis of stock exchange department of CJSC “Exchange “Saint-Petersburg” in April 1997, having received Stock Exchange License №1 in Russia from Financial Markets Federal Agency.
The first financial instruments, listed in the Stock exchange “Saint-Petersburg”, were shares of joint-stock companies, bonds, commercial banks CD’s, municipal bonds of Saint-Petersburg, Moscow, Omsk and Orenburg, Treasury obligations of Russian Federation Ministry of finances, Government loan bonds.
In accordance with Russian Federation Government order №654 the Stock exchange “Saint-Petersburg” became one of the four stock exchanges, authorized to organize trades of JSC "Gazprom" shares. A significant development of shares trades in the Stock exchange “Saint-Petersburg” was caused by a start-up of joint-project together with the RTS - Russian Trading System Stock Exchange, called “Shares market”, in which the Stock Exchange “Saint-Petersburg” is an organizer of trades, the RTS is a clearing center. At that moment listing contained shares of 250 emitters, beside JSC “Gazprom” shares.
Main joint-projects of RTS and the Stock Exchange “Saint-Petersburg”, which were carried out with success and were highly appreciated by market and investment society, were organization of JSC “Gazprom” shares trades through the RTS terminals and FORTS (futures and options) derivatives market. After combining efforts, both Stock Exchanges became absolute leaders in these segments of financial market.
As a part of its further development, in January 2010 Non-profit Partnership Stock Exchange “Saint-Petersburg” completed the process or its reorganization into Open Joint-Stock Company “Saint-Petersburg Exchange”, which allowed 250 professional participants in the securities market to become shareholders of the sole stock exchange in North-Western region of Russian Federation.
Stock Market in JSC “Saint-Petersburg Exchange”
Open Joint-Stock Company “Saint-Petersburg Exchange” became the legal successor of Stock exchange “Saint-Petersburg” and continued to trade JSC “Gazprom” shares for all its participants. Today, JSC “Saint-Petersburg” is the only exchange which has JSC “Gazprom” shares in its listing.
Together RTS and JSC “Saint-Petersburg” began to develop a new project called QUIN (Qualified Investors) – trading of instruments, intended for participants with the status of “Qualified investor”.
Derivatives Market in JSC “Saint-Petersburg Exchange”
In February 2011 JSC “Saint-Petersburg exchange” and JSC “RTS Stock Exchange” carried out a joint project on organization of trading of commodities futures. In this project organizer of trading is JSC “Saint-Petersburg exchange”, clearing organization is CJSC “CC RTS”, settlement organization is “Settlement Chamber RTS”. Trading is carried out on the basis of trade system and risk-management system of FORTS derivatives market. It ensures the principle of single money position in all markets for the participants of trading.
The first instrument in this project was futures contract on wheat, quoted in rubles (trade code: GR). To calculate settlement price a leading market indicator is used, estimated on the basis of Wheat Futures contract of CBOT (included into CME group).
The next instrument in the development of project became calculated futures on diesel fuel (trade code: DS). Futures contract do not include physical delivery of diesel fuel but it is settled by money accounting, in connection with “KORTES-Gasoil” index. The next instruments of the project became futures contracts on corn, soy-beans, cotton, and gasoil.