Today, on November 2, 2009, the NAMEX has held the traditional ceremony of the launch of on-exchange trading. The ceremony, which included the ringing of the Exchange’s bell, was attended by Elena Skrynnik, the RF Minister of Agriculture, Sergei Levin, CEO of United Grain Company, Sergei Naumov, Director of the NAMEX, Evgenii Ellinskii, Vice-President of the MICEX, governors and heads of some grain-producing regions.

In the upcoming trading, held in the framework of state purchase interventions, the NAMEX is authorized to act as the organizer of trading and settlements of marginal loans, the administrator of the trading system and the trading floor in Moscow.
On behalf of the state, purchases will be made by United Grain Company.

Participants in trading will be organizations that have received confirmation of their status of agricultural producers and have been accredited on the NAMEX. Sellers of grain will be companies-winners of on-exchange trading that have concluded an agreement on the supply of the underlying asset to the intervention fund with OZK Company.

Today, trading will be held in the form of successive mini-sessions in the course of which lots of soft food wheat of the 3rd and the 4th classes will be set out.

Simultaneously, trading will be held on exchange floors in Rostov-on-Don (Regional Exchange Center “The MICEX-South”), Nizhny Novgorod (Regional Exchange Center “The MICEX – the Volga Region”), Yekaterinburg (Regional Exchange Center “The MICEX –Urals”), Novosibirsk (the Siberian Interbank Currency Exchange) and Samara (Representation of the MICEX in Samara).

Trading in the framework of state purchase interventions will be held within a single electronic System of Trading in Grain (STG). To ensure the necessary speed and efficiency of trading, participants will be able to enter their orders into the STG not only from workplaces located on exchanges, but also via 38 remote access centers organized by exchanges in different cities of Russia.
Fined detailed information about the state purchase interventions on the websites of the NAMEX and the MICEX: www.micex.ru / commodity www.namex.org

Brief information:

The NAMEX organizes trading in 2 types of physically delivered futures contracts: the futures contract for wheat of the 3rd, 4th and 5th classes (volume of contract: 65 tons) with delivery on EXW terms – grain elevators of the Southern Federal District of Russia and the futures contract for export wheat (volume of contract: 60 tons) with delivery on FOB terms - the port of Novorossiysk. 40 grain elevators are accredited on the NAMEX to ensure delivery on EXW terms, the Southern Federal District.
Since 2002, the NAMEX has participated in state commodity and purchase interventions in the grain market and is the authorized exchange of the RF Ministry of Agriculture. The Evaluation Committee of the RF Ministry of Agriculture has selected the NAMEX to conduct state purchase and commodity interventions to regulate the market for agricultural products, raw materials and food in 2009-2012.

The National Mercantile Exchange was established in July 2002 with the aim of organizing an on-exchange commodity market. Shareholders in the NAMEX are: the Russian Grain Union, the Association of Sugar Producers of Russia, APK OGO, Razguliay Grain Company, the Moscow Interbank Currency Exchange and other organizations. The NAMEX holds the License to organize on-exchange trading in different commodity sections and in the standard contracts section, issued by the Commission for Mercantile Exchanges at the RF Antimonopoly Ministry.

The MICEX Group is an integrated exchange which provides services related to electronic trading, clearing, settlements as well as depository and information services. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, not-for-profit partnership The National Depository Centre, commercial bank National Clearing Centre (closed joint-stock company), regional exchange centers, regional settlement centers and other organizations. The Group serves over 1700 participants in the on-exchange market - leading Russian banks and broker companies from Moscow and other large financial and industrial centers of Russia.
At present, the MICEX Group is the largest exchange in Russia, the CIS, Central and Eastern Europe.

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The National Mercantile Exchange opens on-exchange trading in the framework of state purchase interventions in respect of 2009 grain harvest