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Russian commodity exchange to be registered soon

      RBC, 26.03.2008, Moscow 18:15:51.Russia's new international commodity exchange will be registered as a legal entity in April 2008, head of Russia's Federal Financial Markets Service (FFMS) Vladimir Milovidov told journalists today. The regulator is planning to grant the exchange a license in May, prior to the annual St. Petersburg economic forum, Milovidov said. The majority of the founders of the commodity exchange are oil and gas companies, such as Transneft, Rosneft, Zarubezhneft, and Transnefteproduct, in which the government holds large stakes. The official noted that, while VTB, Gazprombank, and Sberbank have already confirmed their interest in the project, the FFMS expected other companies, such as Surgutneftegas and NOVATEK, to follow their example.

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