Retrospective analysis of the development of commodity exchanges in russia

Issue № 2, 2020, article № 15, pages 112-124

Language: Russian

Original language title: РЕТРОСПЕКТИВНЫЙ АНАЛИЗ РАЗВИТИЯ ТОВАРНЫХ БИРЖ В РОССИИ

Keywords: DERIVATIVES, COMMODITY EXCHANGES, HEDGING, DERIVATIVES MARKET, STOCK AND CURRENCY MARKETS

Abstract: The article analyzes the development of commodity exchanges in Russia for the period from 1990 - 2019. The main stages of the organized commodity market development are identified. The main stages and features of the stock and foreign exchange markets development are considered. The features of the industrial commodity exchange markets development are considered. The main problems of the commodity exchanges development are identified. The effectiveness of administrative methods for the development of exchange trading was emphasized, which is confirmed by the annual high growth rate of trading volume. Measures for further effective development of the oil, oil products and gas market are indicated. The structure of the NTB grain trade with the use of derivative financial instruments has been studied, ranging from the introduction of deliverable futures in 2008 to the introduction of forward and swap transactions in 2015-2016. Analyzed the stages of organized commodity market development. The main possible reasons that may further hinder the development of a grain exchange are considered.

Authors: Araslanov Roman Ravilovich