Russia’s Federal Antimonopoly Service (FAS) has submitted a proposal to ban some fuel traders from trading because they use algorithmic systems to trade on the stock exchange. writes about this RIA News Referring to a comment from the FAS.
The ministry noted that measures to tighten the rules on the use of robots when purchasing petroleum products were discussed at the stock exchange committee meeting. According to the FAS, the option to completely exit trading the next day after the fact of using algorithms is revealed is relevant.
Before that, Neftmagistral, one of Russia’s largest networks of gas stations, had complained to the Ministry of Energy and the Federal Antimonopoly Service about the abnormally high activity of robotic systems during fuel swapping. According to the company’s president, Alexander Erastov, Neftmagistral has not been able to purchase a single batch of AI-95 and AI-92 gasoline in Central Russia since January 12, 2024.
As Erastov explains, algorithms make it possible to automatically submit purchase orders subject to a 0.5% price increase limit; This is faster than those performing manual operations. The publication writes that immediately after the end of trading, the company received offers to purchase fuel at a price higher than the exchange rate.
According to the agency’s market source, some participants use such tactics to strengthen bullish sentiment during growth periods. This happened in August-September 2023 and is happening again now. At the same time, existing methods of countering algorithms are ineffective because they can be easily modified.
“Although statistically the abnormal speed and success of these participants’ applications is evident, the exchange considers these results to be insufficient for sanctions. “Regulators do not intervene in the process by delegating authority in this area to the stock exchange,” he said.
Before this, it was known that the authorities knew. prepare A measure to prevent the increase in fuel prices.
Russians before allowed Buy gasoline in installments.