Belarusian Universal Commodity Exchange to open branch in Gomel in Q2

The Belarusian Universal Commodity Exchange (BUCE) plans to open a branch in Gomel in Q2, 2007. The first auctions are scheduled for June 1, spokesperson for the exchange Svetlana Resenchuk told BelTA. According to her, the trading hall will have 34 working stations. Premises for Mogilev and Vitebsk branches have been found too. Now preparation of the necessary documents is underway. Svetlana Resenchuk reminded that on September 2006, a branch in Brest had been opened. The central office in Minsk has three trading halls with 139 working stations. The spokesperson also added that in 2007-2008 the BUCE branches will appear in all the oblast centers of the country. They will be set up with a view to boosting stock market, improving the quality of services and reducing expenses of traders. The branches will be united by a single communication network which will enable regional buyers and sellers to participate in a trading session conducted in the Minsk central office. Svetlana Resenchuk noted that e-commerce and opportunities to use the stock market technologies will help local authorities organize tenders, auctions, procurement of products demanded in the regions. The Belarusian Universal Commodity Exchange was registered in May 2004. The exchange was set up with a view to improving the mechanism of state regulation in the sphere of domestic and foreign trade, developing organized wholesale commodity market, providing equal access to the market to economic entities and creating additional economic stimuli. The first auctions were held in June 2005. Now the exchange trades in metal products, agricultural products and timber.

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