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Shareholders of the National Mercantile Exchange (NAMEX) hold general meeting
June 21, 2007
The annual general meeting of shareholders of the National Mercantile Exchange (NAMEX) was held 20 June 2007. Shareholders summed up the results of the financial and economic activities of the NAMEX and adopted the balance sheet, the income statement and the distribution of profits and losses. According to the NAMEX financial statements, prepared under Russian standards, in 2006 the net profit of the NAMEX amounted to 376.38 thousand rubles. In 2006 the Exchange focused its activities on: - organizing exchange-based trading in the framework of state purchase interventions on the grain market; - developing projects to organize exchange-based trading in grain and other commodity assets. The NAMEX announced that in 2007-2008 its activities will be focused on the organization of the market for exchange grain contracts in the framework of the Standard Contracts Section and the preparation of projects to organize the market for exchange instruments on other commodity assets. The general meeting of shareholders elected the Exchange Council of the NAMEX. Members of the Exchange Council are: - N.Anokhin: Presdient of the Siberian Interbank Currency Exchange;
- A.Zlochevski: Presdient of the Russian Grain Association;
- V.Krutin: CEO of the Agency for the Regulation of the Food Market;
- I.Makarov: Chairman of the Board of the Nizhni Novgorod Currency and Stock Exchange;
- S.Mayorov: Director for the Development of New Products of the Moscow Interbank Currency Exchange;
- S.Naumov: Director of the National Mercantile Exchange;
- N.Shcherbenko: Deputy Head of the project ⌠Grain Trade■ of Razguliay Grain Company
- Ye.Ellinski: Vice Presdient and Member of the Board of the Moscow Interbank Currency Exchange.
After the general meeting, shareholders of the NAMEX held the first meeting of the Exchange Council, which elected Yevgeni Ellinski Chairman of the Exchange Council of the NAMEX
Brief information: The National Mercantile Exchange was established in July 2002 with the aim of organizing an exchange-based commodity market. Shareholders of the NAMEX are: the Association of Sugar Producers of Russia, APK OGO, Razguliay Grain Company, the Moscow Interbank Currency Exchange, the Nizhni Novgorod Currency and Stock Exchange, the Samara Interbank Currency Exchange, the Siberian Interbank Currency Exchange, the Urals Regional Currency Exchange, Санкт-St.Petersburg Currency Exchange and some other organizations. The NAMEX holds the License to organize exchange-based trading in different commodity sections and in the standard contracts section, issued by the Commission for Mercantile Exchange at the RF Antimonopoly Ministry. Since 2002, the NAMEX has participated in the organization of state purchase and commodity interventions on the grain market. In July 2006 the NAMEX won the contest, organized by the RF Ministry of Agriculture to select exchanges for state purchase interventions intended to regulate the market for farm products, raw materials and food in 2006-2007.
To organize the exchange-based commodity market, the NAMEX uses the infrastructure and the technologies of the MICEX Group, which speeds up the implementation of projects and secures the reliability of the exchange-based commodity market. The MICEX Group▓s IT infrastructure is an up-to-date, highly reliable and well-protected soft- and hardware complex. Participants in
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