A Ukrainian delegation will study best practices in trading in commodities futures in the United States, Yulia Vitka, the deputy head of the USAID Financial Sector Transformation project, wrote on Facebook. “A delegation from Ukraine is once again leaving for Chicago to get in-depth knowledge of the activities of commodities futures trading giants such as stock exchanges (CME), elevators (COFCO), traders (ADM) and to talk to the biggest U.S. associations in these areas, such as the National Grain Association and the National Futures Association,” Vitka wrote.
She stated the delegation will focus on the agricultural and power industries, in which Ukraine “has got all the prerequisites to turn into a regional hub.” According to her, the implementation of such an instrument will allow to promote fair competition and reasonable pricing and to attract investors.
“What can be done as of today? First of all, vote for draft law No. 9035 that not only introduces financial instruments but also creates respective safety levers so that the trade would remain within the established rules, which will be trusted and respected,” Vitka said.
As was earlier reported, experts from the National Commission on Securities and the Stock Market and the USAID Financial Sector Transformation project announced in late 2017 that within a span of five years Ukraine stands a good chance to create a futures contracts market for agricultural products that will be worth $8 billion and for energy products worth about $20 billion.