Exchanges hold about a 5% share of the overall business of selling computers in the Russian Federation, according to the Computer Section of the Moscow Commodity Exchange. The major part of the total sales volume is through informal channels. Analysis of trading activity at computer sections of exchanges indicates that the size of orders has reduced markedly. At present, the exchanges say, demand for computer equipment is growing in regions that have customs tariffs or some other barriers hindering the unrestricted supply of imported computers. After the explosion in the number of commodity exchanges last year, it is now clear that only those with reasonable communication links with other parts of the former USSR are likely to survive. Two of Russia’s largest commodity exchanges, the Russian Commodity and Raw Materials Exchange and the Moscow Commodity Exchange are both investing quite heavily in communications networks. Both exchanges are interested in setting up regional branches able to trade on-line and in real time with each other. Through its sister investment company, Rinako, the Russian Exchange is to invest in Relcom Ltd – the new joint stock company formed to develop electronic mail network set up by the Demos co-operative. Relcom is the largest electronic messaging system in Russia. It is currently trying to raise about 900m roubles (about $9m) through a share issue in order to develop a real-time packet switched service for its commercial customers. The Moscow exchange has purchased a network called Commercial Information System. This is based on Remart system designed by AO Russian Commercial Initiative of Russia and works in real time. Meanwhile, the Russian Company of Exchange Brokers, established a year ago, has launched a communication network based on lines leased from Rospak, Russia, a state-run packet-switching network. The most pressing problem for exchanges is that they are not usually able to organise on-line access to remote databases. The Russian Company of Exchange systems is aimed at exchanges, banks, and brokers. Plans exist to introduce three levels of services available at different prices. The charge structure proposed is a one-off payment of 350,000 roubles plus connection charges. Users will thereafter pay a 3,000 roubles monthly subscription.
