Thursday, 8th June 2006 (2806 views)

The Russian stock market will begin trading gold from today, according to reports in the Russian media.

The Russian Trading System, purporting to be the premier exchange in the region, will begin trading in gold, oil and oil products from today (June 8th).

Igor Artemyev, head of the Federal Antimonopoly Service, told Itar Tass earlier this year exchanges offered "an excellent way of developing competition and effecting a normal de-monopolisation of the market".

He argued that "a much greater transparency" would follow on from the exchanges.

One-month contracts on the RTS involving the commodities will be traded, with the minimal margin set for gold at five per cent and for oil and related products at ten per cent.

For each contract concluded the RTS will collect a 1-ruble commission.

 

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