OREANDA-NEWS. September 6, 2011. The Bank of Moscow, in collaboration with OJSC Unified Electronic Trading Floor (OJSC EETP), Russia’s biggest national electronic trading operator, has offered legal entity and individual entrepreneur clients a special loan for securing applications to participate in a public electronic auction held on the OJSC EETP trading floor.

The advantages of the loan for trading participants are lack of need for any collateral, beneficial credit terms, and rapid decisions on applications. If the borrower needs no more than RUR 5 mln to secure its application to participate in its chosen auction, the decision on such a loan is taken remotely, on the basis of an application form completed on the OJSC EETP website.

The co-operation between the Bank of Moscow and the national electronic trading operator OJSC EETP is one of the Bank’s priority spheres of business. Since 2010, the Bank of Moscow has been fulfilling the function of operator issuing the EETP "supplier start-up package" and registering bidding participants. Sales of the "supplier start-up package" and accreditation of participants is currently carried out by the Bank at three Moscow offices and over ten regional branches. OJSC EETP clients that open disbursements accounts with the Bank of Moscow receive cash settlement services free of charge for the first year.

"By offering special loans for electronic trading participants, we are expanding financial opportunities for a wide group of clients", commented Irina Nikitenko, Vice-President of the Bank of Moscow. "Co-operation with OJSC EETP follows the lines of one of the Bank of Moscow’s chief spheres of business — support for small and medium-sized businesses in the country".

"Easy and rapid credit for electronic trading participants that can be extended remotely is an unprecedented step towards increasing the level of auction competition. The given credit product will help suppliers be more flexible and consider a large number of lot variants. The experts of the Unified Electronic Trading Floor analytical centre believe that appearance of the given credit will raise the average number of suppliers participating in an auction by 20-25%. Our company considers co-operation with the Bank of Moscow as very promising", announced OJSC EETP CEO Anton Emelyanov.