Sergei Maslov, head of Transnefteproduct has been appointed a President of St. Petersburg International Commodity Exchange. First vice-President of Gazprombank Vladimir Tatsij is elected a Chairman of the Exchange BOD. According to the report of OJSC AK Transnefteproduct, a constitutive meeting of CJSC St. Petersburg International Commodity Exchange was held on April 28 2008 in Moscow where an Agreement on establishment of CJSC St.Petersburg International Commodity Exchange was concluded. Besides, the Charter was approved as well as the size of the authorized capital and location of the Exchange. The Board of Directors and the President were elected, the Audit Commission was set up.
The incorporators of CJSC St. Petersburg International Commodity Exchange include the largest Russian companies like Transneft, Rosneft, TransnefteproductGazprom Neft, Zarubezhneft, Surgutneftegaz and large trading and transport companies. The company’s initial capital makes RUR 750 million.