BUCE sets up 12-strong brokerage network abroad in five years
<p> MINSK, Nov 2 - PrimePress. The Belarusian Universal Commodity Exchange (BUCE) has created a brokerage network of 12 companies from China, Germany, Israel, Latvia, Lithuania, Poland, Russia and Estonia, said BUCE chief Alexander Osmolovsky. </p> <p> </p> <p> “There are now 12 companies from China, Estonia, Germany, Israel, Latvia, Lithuania, Poland and Russia in the BUCE broker network abroad. The broker services are usually used by foreign companies who prefer not to allocate staff to participate directly in trading. It is easier for them to give appropriate instructions to a broker and not have to worry about anything. Additionally, brokers can provide quality control services and deliver purchased goods to the client's location,” Osmolovsky said in an interview with the corporate journal Belneftekhim Bulletin. </p> <p> </p> <p> Non-resident stockbrokers play an important role, he says, by using their network of business contacts to bring new bidders to the market. </p> <p> </p> <p> “Non-resident brokers are our know-how, as no stock exchange in the world allows foreigners to obtain the status of a broker. We decided to take a risk, and in 2016, the Law of the Republic of Belarus “On Commodity Exchanges” was amended to let foreign companies act as exchange brokers,” Osmolovsky said. </p> <p> </p> <p> He said that now about 27,000 companies from 68 countries are accredited to the BUCE. The annual turnover of the exchange is $2.5bn. “Moreover, the geography of exchange trading is constantly expanding - in the last two months alone we have had clients from Brazil, Gibraltar, South Korea and Japan,” Osmolovsky said. </p> <p> </p> <p> The largest number of accredited companies is from Russia - over 2,600 thousand, Lithuania - 490, Latvia - 400, Poland - 380, Ukraine - 340. </p> <p> </p> <p> The Belarusian Universal Commodity Exchange (BUCE) was established in 2004, the first trading session was held on June 2, 2005. As of Oct 1, 2021, 26,878 companies (including brokers’ customers), including 5.372 thousand non-residents, were accredited on the exchange. End </p>
2021-11-03
Primepress
BUCE sets up 12-strong brokerage network abroad in five years
MINSK, Nov 2 - PrimePress. The Belarusian Universal Commodity Exchange (BUCE) has created a brokerage network of 12 companies from China, Germany, Israel, Latvia, Lithuania, Poland, Russia and Estonia, said BUCE chief Alexander Osmolovsky.
“There are now 12 companies from China, Estonia, Germany, Israel, Latvia, Lithuania, Poland and Russia in the BUCE broker network abroad. The broker services are usually used by foreign companies who prefer not to allocate staff to participate directly in trading. It is easier for them to give appropriate instructions to a broker and not have to worry about anything. Additionally, brokers can provide quality control services and deliver purchased goods to the client's location,” Osmolovsky said in an interview with the corporate journal Belneftekhim Bulletin.
Non-resident stockbrokers play an important role, he says, by using their network of business contacts to bring new bidders to the market.
“Non-resident brokers are our know-how, as no stock exchange in the world allows foreigners to obtain the status of a broker. We decided to take a risk, and in 2016, the Law of the Republic of Belarus “On Commodity Exchanges” was amended to let foreign companies act as exchange brokers,” Osmolovsky said.
He said that now about 27,000 companies from 68 countries are accredited to the BUCE. The annual turnover of the exchange is $2.5bn. “Moreover, the geography of exchange trading is constantly expanding - in the last two months alone we have had clients from Brazil, Gibraltar, South Korea and Japan,” Osmolovsky said.
The largest number of accredited companies is from Russia - over 2,600 thousand, Lithuania - 490, Latvia - 400, Poland - 380, Ukraine - 340.
The Belarusian Universal Commodity Exchange (BUCE) was established in 2004, the first trading session was held on June 2, 2005. As of Oct 1, 2021, 26,878 companies (including brokers’ customers), including 5.372 thousand non-residents, were accredited on the exchange. End