Test trading sessions in rapeseed oil were held on July 21 on the Belarusian Universal Commodity Exchange. The trading sessions were attended by economic entities and stock exchanges of the Eurasian Economic Union countries (as participants), as well as representatives of government agencies and the Eurasian Economic Commission (as observers).
Representatives of the Belarusian Universal Commodity Exchange demonstrated actual workflow, during which non-residents from the EAEU countries were able to register for free and remotely purchase and sell rapeseed oil suitable for transportation through the EAEU territory. Transactions were settled in any of the national currencies of the Union countries.
The test trading made it possible to simulate and perfect terms of trade within the first stage of the scheme for forming the EAEU common exchange market for goods proposed by the Belarusian side. At the second stage, unfilled biddings of national stock exchanges can be sent to the international module for further search for counter-proposals and transaction processing with participants of other Union countries’ exchanges. The business representatives highly appreciated the organized test trading and expressed interest in participating in real-time trading sessions on the Belarusian Universal Commodity Exchange.
The outcomes of the test trading will be discussed at a meeting of the Working Group on forming a common exchange market for goods within the EAEU in autumn this year.
It bears reminding that forming the Union’s common exchange market for goods is contemplated by the Strategy-2025. The concept of forming the Union’s common exchange market for goods is scheduled to be approved by mid-2023, and the Program for its implementation is scheduled to be approved until by December 31, 2024.