Fuel market participants in St. Petersburg have raised concerns about a sharp rise in the use of trading bots when buying fuel on the SPIMEX exchange. The issue drew attention from regulatory authorities after reports highlighted by Interfax. The core worry is that automated trading systems are clustering orders, effectively crowding out real buyers who want to place legitimate purchases on the exchange.
Evgeniy Arkusha, head of the Russian Fuel Association, explained that bots can sweep through large portions of available lots, leaving traditional buyers with few options. This pattern creates a friction point for traders who rely on fair access to petroleum products and can push prices higher as competing supply is curtailed by automated activity.
As a result, buyers often must turn to dealers outside the exchange to secure supplies, frequently at elevated prices. A notable example described in industry discussions involved a gas station chain that could not acquire gasoline on SPIMEX during a window from January 12 to January 24, illustrating the real impact on procurement planning and cost structures for fuel retailers.
SPIMEX stated that its monitoring systems continuously observe trading behavior among participants. When violations are detected, the exchange has the authority to apply corrective actions, including suspending or banning transactions to preserve market integrity and fairness for other participants.
Earlier, Deputy Prime Minister Novak directed the Federal Antimonopoly Service and the exchange to tighten controls over participants who misuse trading bots. The directive underscored the government’s intent to address speculative practices that distort supply and price signals within the domestic fuel market.
The situation parallels discussions in other regions where automated trading activities have been linked to volatility in energy prices. In the United States, there have been debates around bot-driven trading and its potential influence on price movements in oil markets. Analysts note that while technology can enhance market efficiency, it can also create scenarios where small buyers face barriers to entry and price discovery becomes less transparent.
Meanwhile, European energy markets have faced their own challenges, prompting regulators to consider safeguards that ensure liquidity remains accessible to traditional buyers. A careful balance is needed to maintain orderly markets while allowing innovative trading practices to occur within clear boundaries and robust oversight. Market participants emphasize the importance of transparent rules, effective surveillance, and timely enforcement actions to deter manipulative behavior without stifling legitimate liquidity provision.
Industry observers advocate for ongoing collaboration among regulators, exchanges, and participants to refine monitoring tools, strengthen bot-detection algorithms, and implement risk controls that minimize the risk of market disruption. The overarching goal is to ensure that price signals accurately reflect supply and demand, rather than automated obstructions that favor a subset of traders. In this context, the SPIMEX framework remains a focal point for evaluating how best to align technological capabilities with fair access for all legitimate buyers across the fuel supply chain.
As markets adapt, stakeholders continue to monitor developments and assess the effectiveness of enforcement measures. The dialogue between policymakers, exchanges, and industry participants is expected to shape future rules that promote transparency, competition, and resilience in the energy sector both in Russia and on a broader international stage.