RRDB has become an authorized bank on the Inter-Regional Oil and Gas Complex Exchange

Moscow, 5 July. The Russian Regional Development Bank has become one of the three authorized banks on the Inter-Regional Oil and Gas Complex Exchange (IOGCE).

An authorized bank on the IOGCE is a credit organization to which is granted the right to make payments in accordance with applicable law. Such organization is also authorized by the exchange to carry out banking operations registering transactions collaterals. Additionally, such banks are entitled to issue bank guarantees to participants in auctions in the prescribed form to submit them as collaterals on the exchange.

In addition to RRDB, the other two banks authorized on the IOGCE are Alfa-Bank and Probusinessbank.

The approval of authorized banks was called for by the increase of liquidity on the market due to the issue of their bank guarantees, as well as their assistance in implementing programs for credit organizations to participate in exchange trading on the IOGCE. This measure is one of the conditions to ensure free and equal access to the circulation of petroleum products for all participants in various segments of this market.