Commodity exchange trade in refined oil products is expected to begin on October 1, 2007, a Russian Economy Ministry source told RBC, adding that a commission meeting took place today to decide on a trading floor for this purpose.
The commission approved a list of documents for organizing commodity exchange trade and set a date on which bids will start to be accepted for the tender to determine the trading floor. Bids will be accepted between July 27 and August 27, and a final decision will be made on September 10. The commission is made up of representatives of the Economy Ministry, Federal Antimonopoly Service, Industry and Energy Ministry, and Federal Financial Markets Service, according to the source. The commission is chaired by Deputy Economy Minister Kirill Androsov.