Chairman of the NSSMC: Commodity markets should get a powerful central counterparty

Ruslan Magomedov, Chairman of the NSSMC, took part in the UkrainianGasOpen 2023 forum: «Production. Transportation. Storage. Sale», dedicated to the key aspects of gas production and sale in Ukraine during a full-scale war.

The event was organized by EnergyClub and the Association of Gas Traders of Ukraine.

During his speech at the panel discussion, the Chairman of the NSSMC discussed with his colleagues the implementation of exchange transactions in gas trading through the «order glass», as well as the prospects for the emergence of derivative financial instruments in the Ukrainian gas market.

Mr. Magomedov noted: «An important issue for the commodity market is the creation of a central counterparty that all market participants will trust. And the easiest step to do this is to create such a counterparty by the most active participants in the exchange. A powerful central counterparty means reliable execution of transactions in an organized commodity market, anonymity of orders and the possibility of launching new derivatives».

In general, the participants discussed the goals set by the President of Ukraine to increase natural gas production and create conditions for energy independence; the development of the Ukrainian gas market in the context of war; global trends in the development of the gas sector in Europe and the experience of exchange trading in Ukraine.