Belarusian Universal Commodity Exchange stands as the core of the organized commodity market in the Republic of Belarus. In today's market conditions, the exchange mechanism has an advantage over other forms of trade and is the most efficient one due to the high concentration of supply, equal access to goods for all market participants, openness and transparency of trade operations. A fair price for goods is reached under free competition at exchange auctions on the basis of the actual supply and demand.
BUCE carried out the first auctions on June 2, 2005. By then only 15 companies were accredited at the Exchange. At the moment our client base comprises more than 16380 participants, out of which more than 3450 are represented by companies from 57 countries.
The Exchange has been a member of the International Association of Exchanges of the CIS (IAE CIS) since 2008. At our initiative in October 2010 the Committee on commodity markets was formed at IAE CIS, whose work is directed at creation of favorable conditions for international trade with the use of up-to-date exchange technologies, including on the terms of high degree of assuring the execution of concluded foreign trade contracts.
In 2011 BUCE became a full member of the world's leading Association of Futures Markets (AFM), participation in which contributes to the spread of business information about the Exchange in the international exchange community, and also opens up new horizons for the intensification of exchange trade, helps to strengthen international co-operation ties, empowerment of Belarusian companies to find potential trading partners abroad and enter new export markets, promoting the image of not only the Exchange, but Belarus in general among the foreign companies involved in the exchange trade.
Branches of Belarusian Universal Commodity Exchange operate in all regional centers of the Republic, and in 2010 the Representation office of the Exchange opened in Moscow in the Russian Federation on the premises of the All-Russian Exhibition Centre, whose main task is to expand business ties, search for partners for the development of various activities of the Exchange in Russia and regions that collaborate with it. On the basis of the positive experience of this Representation office, we are working to create similar structures in other countries. For example, our representatives already work in Lithuania, Latvia, Bulgaria, and South Africa. German companies also express willingness to perform such a function.
Thus, Belarusian Universal Commodity Exchange in a relatively short time has become not just a well-known but reputable company, sought to have ties with by representatives of the business, because objectively it is one of the leading electronic trading platforms in Europe. Contributors to the achievement of this status are the continuous improvement of legal and software/hardware exchange trading, a wide range of services offered by the Exchange, in particular, exchange logistics, electronic trading platform for procurement through electronic auctions, information services, continuous expansion of the list of commodities, introduction of new instruments, including trading futures contracts on the futures commodity market.
In the short term on the basis of Belarusian Universal Commodity Exchange we plan to create a company of the holding type that will include the Exchange itself, a clearing house, branches, representation offices, the centre of information technologies and the exchange infrastructure as a whole. Creating such a holding will further cement the status of the Exchange as one of the most important economic institutions in the Republic of Belarus, and will contribute to improving the competitiveness of the exchange trade participants in the global commodity market.