Russian Trade and Clearing House project.
ALKOR Group of companies (Russian Academy of
Natural Sciences) offers a suggestion of the creation of Russian Trade and
Clearing House (RTCH), that operates as Exchange and Exchange settlement (Clearing)
House. The project gives the opportunity to develop the commodity, financial,
stock, and currency markets in Russia and also, the market of derivatives (futures
and options). RTCH could be used for the settlement services of forwards and
ex pit transactions. That will allow to solve the problem of the mutual
non-payments between producers and consumers of the structure-forming
production (as metals, agriculture, power grids)
In our opinion, at the real time,
the members of the Exchange are in deep need for a wider instruments in
commodity, financial, stock, and currency markets. That will allow them to
create "an investment portfolio" and provide the transactions at the
same time in different sectors of the market and to distribute the assets
between them. We cannot solve this problem, because none of the existing
Exchange structures in Russia have the needed technology of the trade
operations, neither the technology of mutual settlements and guarantied
fulfill of obligations.
Group of companies worked out a business plan documents to create RTCH (the
detailed papers of the project including: Memorandum of RTCH, it's internal
structures and the draft resolution of the Russian Government on this subject).
These documents have been approved by appropriate Committees of the State Duma
(Parliament) and after that along with the letter from the State Duma at the
name of the Prime Minister (the letter N 3.11-21/1827 on the 5th
November, 1998) have been passed to the Russian Government for the resolution.
At the real time, the resolution of the Government has been not taken yet and
the reason for that is the change of the Government itself and lack of funds
for this project.
It worth to note that the
organizers of RTCH as a State unit, will play a leading role in the field of
commodity and clearing settlements in Russia and CIS countries and other
countries that have economic and trade relations with the Russian
Federation.We estimate that during the next 3-5 years of active work RTCH
could reach an annual trade volume amounted to the tens of billion of USA
dollars. At the same time the earnings of RTCH itself could reach from
hundreds million to billion of USA dollars.