The NSSMC (National Securities and Stock Market Commission) approved the Regulations on the Procedure of Preparation, Submission and Publication of Reporting Data by Commodity Exchanges.
“The NSSMC continues systematic work on the regulation of the commodity segment. As in other areas, we strive to have clear and understandable rules of the game here, and the issue of reporting is not an exception, but one of the elements of the “puzzle”, says Iraklii Baramiia, the Commissioner. “We discussed this document with market participants and colleagues from other government agencies, so we plan to receive full information from commodity exchanges about its activities from the spring.”
Therefore, according to the Regulations, the NSSMC has established the following deadlines for the beginning of reporting:
So, from today the commodity exchanges will submit data to the NSSMC within the following deadlines:
At the same time, the Regulator also took care of the conditional transitional period. Therefore, the deadline for submission of monthly data for July, August, September, October, November, December 2021 is until June 30, 2022 inclusive. The Provision, for the convenience of professional participants, also contains all forms of information necessary for the preparation and submission of such reports.
“It’s important for the Regulator and, I’m convinced, the market as a whole to clearly regulate the commodity market, because it should be the key to the development of derivatives,” the Commissioner adds.
The Provision comes into force from the date of its official publication, except for paragraph 2 of Section I, which refers to the extension of the requirements of the document to legal entities licensed to conduct activities for the organization of derivative contracts on commodity exchanges, etc.
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