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. Last Updated: 07/27/2016

Reuters Will Distribute Futures Market Details

Moscow Commodities Exchange has signed a cooperation agreement with Reuters Holdings PLC that will distribute Russian futures market information worldwide for the first time, representatives said Tuesday.

Sergei Laptev, vice president of the commodities exchange, said that under the agreement, signed Monday, Reuters gains the right to distribute information on the exchange's futures contracts. In return, Reuters will install its information terminals at the exchange.

Laptev said that shrewd Western businessmen would be interested in the futures contracts trade at the Moscow exchange, saying it was highly profitable.

"Futures trade is a very profitable business in times of political instability and high inflation and this is exactly what we have in Russia today," he said.

Russian traders also needed information from international markets, especially on commodities, Laptev said.

Moscow Commodities Exchange, which was the first Russian exchange to begin trading in futures in 1992, now includes 1,000 Russain enterprises and had a turnover of 121.5 billion rubles in 1993, Laptev said.

He said that over the past four month the volume of dollar/ruble futures trading had grown by seven times..

Reuters has over 200 subscribers in Russia, mostly from the banking and business spheres, and has set up its Russian Financial News Service and Russian Domestic Dealing Service to meet demand for financial information in the region, according to a joint press release.