RUSSIA’S COMMODITIES EXCHANGE
RUSSIA’S COMMODITIESEXCHANGE
Russia’s largest commodities exchange
SPIMEX HAS BEEN TRADING:
Refined products – since 2008Crude Oil – since 2013Refined Products Futures – since 2010Natural Gas – since 2014Timber – since 2014Other commodities (coal and grain)
BRINGING INTEGRITY TO RUSSIA'S COMMODITIES MARKETS
In 2015, 15.9 million tonnes of and petrochemicals were traded through SPIMEX.
refined products1.
In 2011, SPIMEX started in crude oil, natural gas, refined products, LPG, coal and grain.
to register OTC transactions2.
SPIMEX calculates for domestic refinedproducts based on exchange and OTC transactions.
price indices3.
Since 2012 SPIMEX are used as underlying assets traded in SPIMEX Derivatives Market.indices
in futures contracts4.
In 2014, SPIMEX launched trading in the Natural Gas Marketand the Timber & Construction Materials Market.
5.
St. Petersburg InternationalMercantile Exchange
The Exchange’s mission is to operate a regulated commodities market and offer a transparent price formation process to ensure fair prices for the main energy commodities produced in Russia and other CIS countries.
2008YEAR OFFOUNDATION
900+CONTRACT
SPECIFICATIONS
1,900MARKETPARTICIPANTS
73+MILLION TONNES
tradedof refined products
8
SDCOHOUSE
CLEARING
+
SETTLEMENTBANKS
St. Petersburg International Mercantile Exchange (license # 077-004). Charter capital: RUB 435 mn.
SPIMEX founding shareholders: Transneft, Transnefteproduct, Rosneft,Gazprom Neft, Surgutneftegas, Sovcomflot, Russian Railways and others.
8 authorized settlement banks: Sberbank, VTB Bank, Gazprombank, Alfa-Bank, Rossiya Bank, RRDB, Russian Agricultural Bank and National Settlement Depository.
Clearing house: Settlement Depository Company (SDCO).
Advanced and liquid refined products market: over 15 million tonnes traded annually. Number of market participants: 1,700+
Price indices calculation: based on exchange and OTC transactionsin commodities.
Futures market for exchange-traded refined products and crude oil.
Registration of OTC transactions for crude oil, refined products, LPG, coal and grain.
PROFILE
St. Petersburg International Mercantile Exchange (license # 077-004). Charter capital: RUB 435 mn.
SWEDEN
FINLAND
PrimorskSt. Petersburg
PolotskBELARUS
Moscow YaroslavlNizhny Novgorod
DonetskOdessa
GERMANY
TURKEY
Makhachkala
BakuIRAQ
TURKMENISTAN
UZBEKISTAN
KAZAKHSTAN
OrskOmsk
Surgut
PechoraWestern Siberia
Anzhero-Sudzhensk Irkutsk
MONGOLIA
Ulan-UdeChita
Khabarovsk
The Sea ofOkhotsk
Nahodka
The Sea ofJapan
CHINA
Eastern SiberiaVerkhnechonskiy
Komsomolsk-on-Amur
The Barents Sea
REFINED PRODUCTS
SPIMEX is Russia’s organized for refined
products
largest market
In April 2013, SPIMEX
launched trading
in crude oil
18 mln tn
15
12
9
6
0
15.5
2010 2011 2012 2014 20152013
17.2
13.5
9.611.5
4.9
3
Summer Diesel2.814
18.2%
Gasoline Premium 951.926
12.4%
Jet Fuel1.903
12.3%
Autumn/SpringDiesel 0.572
3.7%
Winter Diesel1.311
8.5%
Fuel Oil1.797
11.6%
Other Petroleum Products0.175
1.1% Gasoline Regular 924.591
29.7%
2013 год2015 year
milliontonnes
Arctic Diesel0.390
2.5%
of crude oil traded since launch*2.537
CRUDE OIL
of refined products
traded in 2015
15.5
Over 1,700 market
participants includingall Russian oil majors
All types of refined
products traded for deliverypoints of all major Russianrefineries
million tonnes
million tonnes* as of 24 March 2016
NATURAL GAS
On 24 October 2014, SPIMEX launched trading in natural gas.
Month ahead trading is basedon deliveries on the followingbalancing points (hubs): Nadym,Vyngapurovskaya, South-Balykskayaand Parabel.
Day ahead trading was launchedon 26 October 2015.
TIMBER
On 11 July 2014, SPIMEX launched timber trading in its Timber andConstruction Materials Market.
Trading in conifer timber and processed forestproducts organized for deliveries originatedin Irkutsk Region and Bashkortostan.
SPIMEX brings together over 60 entities,including major logging companies, forestleaseholders and wood processing businesses.
SPIMEX plans to add new trading instruments,to expand geographic reach and in the longrun to launch a cross-border deliverymechanism.
11.3 bcmof natural gas traded since launch*
* as of 24 March 2016
St. Petersburg
Moscow
Rostov-on-Don
Samara Ekaterinburg
Novosibirsk
Irkutsk
Khabarovsk
Krasnoyarsk
Territorial Indices
Territorial Indices reflect pricing for eachtype of refined product offeredby domestic refineries locatedin European Russia; the Urals & WesternSiberia and Eastern Siberia & the RussianFar East.
INDICES
Composite index is a unified indicatorof the domestic refined products market,which measures price performanceof an average tonne of exchange-tradedlight refined products.
Prices at large refineries forexchange-traded refined products.
* calculated both for exchange-traded and OTC transactions
Regional Indices* track prices for refinedproducts in the largest consumption centers of Russia.
National Indices* track prices for refinedproducts at the national level.
Acts as a price fixing tool for future purchase/sale of refined products
Market participants: leading brokers and their customers in spot commodities markets,oil companies and end users of refined products
Central counterparty services provided by Settlement Depository Company (SDCO)
ADVANTAGES OF SPIMEX DERIVATIVES MARKET:
DERIVATIVES
SPIMEX offers trading in futures
contracts
In 2015, turnover in SPIMEX derivativesmarket amounted to RUB 6.3 bn(over 177,000 contracts).
CHANGES IN FUTURES CONTRACTS SETTLEMENT PRICE
AND IN THE VLADIMIR-BASED INDEX
Feb 15 Mar 15 Apr 15 Jun 15 Jul 15 Aug 15May 15
Sep 15 Oct 15 Nov 15 Jan 16 Feb 16 Vladimir-based IndexDec 15
4600043000
37000340003100028000
Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Dec 2015
40000
3900037000
33000310002900027000
35000
Non-deliverable futures contractson refined products price indices
DERIVATIVES MARKET INSTRUMENTS:
Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Dec 2015
Mar 15 Apr 15 May 15 Jun 15
Aug 15 Sep 15 Oct 15
Jul 15
Vladimir-based IndexNov 15
GASOLINE REGULAR 92
SUMMER DIESEL
No hidden expenses: 5-8% initial margin when trading in index futures contracts; no transportation/storage costs
Tools for various trading and investment strategies
Online Web-based access to trading
Deliverable futures contractsfor refined products21
OTC TRANSACTIONS REGISTRATION
SPIMEX is authorized to register OTC transactions forthe following commodities:
OTC transactions registered in 2015:
Commodity Volume, 000’ tonnes Number of transactions
Refined products
Crude Oil
Coal
Grain
163 519
130 744
356 994
63
147 403
1 917
16 435
24
MARKET DATA
SPIMEX distributes market data to regulators, market participants, news agencies,information vendors, research and consulting firms.
In June 2013, SPIMEX entered into a cooperation agreement with the RussianFederal Antimonopoly Service (FAS) on enhancing transparency in the domesticcrude oil and refined products markets.
Market data distributed by SPIMEX is based on actual transaction data on-exchangeand registered with SPIMEX by OTC market participants.
Data from OTC transactions registered by SPIMEX
are used for calculation of the relevant indices
Refined products
Natural Gas
Coal
Crude Oil
Grain
TORG-i ELECTRONIC TRADING PLATFORM
Electronic purchase
& sale procedures,
web-based
platform
operated by
SPIMEX
The Web-service is to software andproper administration at all stages of contract-making process.
highly reliable due flexibility
TORG-i platform allows users to conduct for concluding various purchase and sale agreements.
all types of electronicprocedures
TORG-i can be to suit particular requirementsand accommodating specific document control needs.
custom-tailored
WWW.TORG-i.COM
TORG-iAUCTIONS TENDERS
PROCUREMENT ASSET SALES
RUSSIAN FEDERAL LAW
#223-FZRFQs
SA
G LAR
UTAN
CRUDE O
IL
УЧАСТИЕ В ТО РГАХ
BROKER
SELECTION
List of brokers
authorized to provide
brokerage services
to customers in the
relevant market:
2
ENTERING INTO
A BROKERAGE AGREEMENT
WITH A BROKER
NOW YOU CAN TRADE
VIA YOUR BROKER
3
4
ON OWN BEHALF
TRAINING
PROGRAMS
(FREE OF
CHARGE)
ACCREDITATION at SDCOclearing house
Entering into a TECHNICAL ACCESS
AGREEMENT with SPIMEX
NOW YOU CAN TRADE
STATUS
SELECTION
Visiting Trading Participant
Provisional Section
Member
Permanent Section Member
Member of the Exchange
3
2
Entering into a TRADING PARTICIPANT
AGREEMENT with SPIMEX and paymentof Admission Fee 4
5
6
7
VIA BROKER
MARKET
SELECTION11
MEMBERSHIP
REGISTRATION of a company
employee as a TRADER and receipt
of A DIGITAL SIGNATURE KEY
As a Trading ParticipantAs a customer
of a Trading Participant
ACCREDITATION at SDCOclearing house
SPIMEX.COM/
PARTICIPANT/
BROKERS
MOSCOW:
ST. PETERSBURG:
IRKUTSK:
tel.: +7 (495) 380-04-24, fax: +7 (495) 380-04-23
Marata str., 69-71, A, tel.: +7 (812) 449-53-83
Gorky str., 36 B, office III-12 tel.: +7 (395) 248-83-20+7 (395) 248-83-24
Timura Frunze str., 24
FOR MEMBERSHIP INFORMATION:
Sales and Customer RelationsTel.: +7 (495) [email protected]
FOR DERIVATIVES MARKET :INFORMATION
Derivatives Market DevelopmentTel.: +7 (495) [email protected]
TRAINING PROGRAMS:
Please file your application at www.spimex.com
www.spimex.com
+ 7 (495) 380-04-24
vk.com/spimex
twitter.com/spimex
facebook.com/spimex
linkedin.com/company/saint-petersburg-international-mercantile-exchange
CONTACT INFORMATION
SUPPLY MANAGEMENT
RISK MANAGEMENT
TRADING
URALS FUTURESFOB PRIMORSK DELIVERY
TYPE OF CONTRACT: Deliverable
UNDERLYING ASSET: Urals grade crude oil
TERMS OF DELIVERY: FOB Primorsk
CONTRACT SIZE: 1,000 bbls
STANDARD DELIVERY: 720,000 bbls (100,000 mt)
CURRENCY: US Dollar
SPIMEX URALS DELIVERABLE FUTURES CONTRACT
For more info visit: http://spimex.com/en/derivatives/export-oil-trades/