Russia’s Federal Antimonopoly Service (FAS) has suggested restricting certain fuel traders from operating on stock exchanges due to the use of automated algorithmic systems. A major news outlet reports on this proposal, citing FAS commentary.
During a stock exchange committee meeting, officials discussed tightening rules around the deployment of robotic trading when purchasing petroleum products. The FAS notes a potential option to suspend trading entirely the day after discovering algorithmic activity, a measure that could curb rapid, automated actions in the market.
Earlier, Neftmagistral, one of Russia’s largest gas-station networks, appealed to the Ministry of Energy and the FAS over unusually high robotic trading activity during fuel swaps. The company’s president, Alexander Erastov, stated that since January 12, 2024, AI-95 and AI-92 gasoline purchases in Central Russia have been nearly impossible.
Erastov explains that algorithms enable the automatic placement of purchase orders within a 0.5% price increase cap, a speed that outstrips human operators. Reports indicate that immediately after trading closes, Neftmagistral received offers to buy fuel at prices exceeding the current exchange rate.
Market insiders say some participants use such tactics to intensify bullish sentiment during growth phases. This pattern appeared in August-September 2023 and has resurfaced again. Existing countermeasures against automated trading are losing effectiveness because the programs can be modified with relative ease.
Although the data show abnormal speed and a high conversion rate for automated applications, the exchange has judged these results insufficient to justify sanctions. Regulators do not directly intervene in trading activities by delegating authority to the stock exchange for this purpose, according to officials cited by the agency.
There is awareness that authorities are preparing measures aimed at moderating price spikes in the fuel market.
In prior developments, Russians have explored installments for gasoline purchases, reflecting ongoing adjustments in regulatory and market practices.