According to the Yonhap News Agency, the Korea Exchange (KRX) plans to establish an oil spot exchange as early as April next year to advance the rationalization of oil commodity prices.
The South Korean Exchange said last week that it is planning to establish an oil spot exchange in April next year, and has so far made positive efforts to create a favorable trading environment for both demanders and suppliers.
The “Proposal for Enhancing Transparency of Oil Market and Promoting Competition†announced by the Korean Ministry of Knowledge Economy in April this year includes the contents of constructing oil spot exchanges and online trading markets.
After the oil online trading market is established, oil refining companies, sales agents, and gas stations can trade petroleum commodities through electronic trading systems.
After the South Korean Exchange plans to establish a foothold in the oil spot market, it will also set up an oil market.
The South Korean Exchange said last week that it is planning to establish an oil spot exchange in April next year, and has so far made positive efforts to create a favorable trading environment for both demanders and suppliers.
The “Proposal for Enhancing Transparency of Oil Market and Promoting Competition†announced by the Korean Ministry of Knowledge Economy in April this year includes the contents of constructing oil spot exchanges and online trading markets.
After the oil online trading market is established, oil refining companies, sales agents, and gas stations can trade petroleum commodities through electronic trading systems.
After the South Korean Exchange plans to establish a foothold in the oil spot market, it will also set up an oil market.
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