OREANDA-NEWS. On 06 April 2009 was announced, that trading was opened on the Eurasian Trading System headquartered in Almaty.

The first commodity launched on the exchange was third class wheat.

By the end of the trading session that was held from 12:00 pm to 2:00 pm local time 65 tons of wheat were sold at 21,500 tenge (around 142.05 USD) per ton excluding VAT. Six traders representing clients from Kazakhstan, Tajikistan, Uzbekistan, Turkmenistan, Kyrgyzstan, Afghanistan and Iran took part in trading on the launch day.

Spot trades made on the ETS are settled on the execution day by debiting and crediting cash funds by the exchange to the corresponding trading accounts opened for brokers and their clients against the transfer of grain receipts from the seller’s depository account to the buyer’s depository account.

Trading and clearing is performed in the electronic system "RTS PLAZA". Settlement is done by Tsesnabank, a commercial bank located in Astana.

Later on the exchange plans to introduce new commodities, such as rye, barley and metals and to launch futures contracts on the underlying commodities.

JSC "Eurasian Trading System" was set up in 2008 by the Regional Financial Centre of Almaty City (RFCA) and OJSC "Russian Trading System" Stock Exchange. This commodity exchange is designed to facilitate spot and derivatives trading in commodities. End consumers of the commodities as well as international and Kazakhstan brokers can participate in trading on ETS.