The State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) has further modernized procedures for participation of Turkmen entrepreneurs and companies in exchange trades.
Turkmen entrepreneurs and companies can participate in purchase and sale activities on the exchange by acquiring in a short period of time a brokerage position or by entering into contracts with exchange intermediaries who offer brokerage services.
Businesses interested in engaging in exchange trading can obtain brokerage positions by submitting an application to the relevant department of the SCRMET, along with a power of attorney issued by the director to the broker, a sample general power of attorney, and approved bank details.
The cost for a one-year brokerage position for participating in exchange trades for local businesses is 10,000 manats.
Participants involved in exchange trades will have access to consultation services provided by specialized experts from SCMRET to address any arising issues.
The exchange trading at the SCRMET is built upon principles of transparency and public accessibility, ensuring equal opportunities for all participants. Prices on the exchange are determined freely, and exchange transactions are made voluntarily. Any intermediary can freely purchase all goods listed on the exchange on competitive terms.
The SCRMET serves as a significant economic institution for regulating the country's wholesale market and carries out analytical and regulatory functions in export-import operations. The introduction of a digital system at the exchange has led to constant improvements in commercial operations and contract registration.