LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Otkritie Capital International Limited (OCIL) just announced that has joined the Derivatives Market as a Non-Resident Trading Member and plans to trade in SPIMEX Ural Crude Oil Futures (FOB Primorsk).
The company’s membership allows OCIL to trade on its own account as well as on behalf of its clients, including foreign buyers of Russian crude oil.
OCIL will provide a full range of trading, clearing and prime brokerage services to international participants of SPIMEX Derivatives Market.
Market participation of a Non-Resident broker demonstrates a high degree of interest among international traders in SPIMEX Urals Crude Futures product.
Involvement of Russian and international investment companies and banks as well as key market participants of physical and paper crude oil market is one of the most important trends in SPIMEX’s project development aimed at building a new foundation for pricing Russian export oil.
Otkritie Capital International Limited is a UK based financial institutional broker, offering institutional and corporate clients a full range of securities and derivatives trading, financing, asset safe-keeping and research. The main goal is to deliver the benefits of a two-way access to Russian Market for International Investors and vice versa for Russian investors.
Saint-Petersburg International Mercantile Exchange (or SPIMEX) is one of the largest commodity exchanges in Russia offering a wide range of trading both in spot and derivatives contracts. SPIMEX makes spot trading available for the main categories of petroleum products, operating a wide-ranging network of delivery points and enforcing common rules and procedures for all participants. SPIMEX has played a key role in establishing nationally accepted indicators and developing a commodities futures marketplace. Formed via a liquid and transparent exchange process, SPIMEX’s quotes comply with the definition of fair market prices set forth in the tax, antitrust and exchange laws and regulations. SPIMEX was founded in 2008.