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National Mercantile Exchange

Russian commodity exchange, part of the Moscow Exchange Group, organizing agricultural commodity auctions, spot trading and grain market indices.

Last updated September 27, 2026

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Overview

The National Mercantile Exchange (Russian: Национальная товарная биржа, АО НТБ; also rendered as the National Commodity Exchange) is a Russian commodity exchange established in July 2002 and headquartered in Moscow. Its stated core mission is the organization of an exchange-based commodity market in Russia. Since its founding it has taken part in state commodity and procurement interventions in the grain market and acts as an authorized exchange of the Russian Ministry of Agriculture. It holds exchange license No. 045-008 issued on 25 December 2013 by the Central Bank of the Russian Federation. The exchange is part of the Moscow Exchange Group (MOEX), and its press contacts are handled through MOEX. Its activities today include organizing exchange trading of agricultural products through commodity auctions, spot trading in sugar and other goods, calculating grain crop market indices, and registering over-the-counter commodity contracts. Its auction announcements list buyers and sellers of wheat, sunflower, rapeseed and soy across Russian regions, with delivery bases such as Voronezh Oblast, Primorsky Krai, Kursk Agro Terminal, Amur Oblast, Saratov Oblast, Volgograd Oblast and Orenburg Oblast. As a member of the Moscow Exchange Group, the exchange participates in group-wide compliance programs; in 2023 the group decided on group-wide ISO 37301:2021 certification, and NTB passed the certification audit for the first time together with the group's other entities. The exchange is a corporate brand and market infrastructure operator rather than a consumer product brand, and its identity is tied to Russian agricultural commodity trading and state grain interventions.

History

The National Mercantile Exchange (АО НТБ) was established in July 2002. From its inception its main development direction has been the organization of an exchange-based commodity market in Russia. Since 2002 it has participated in state commodity and procurement interventions in the grain market and serves as an authorized exchange of the Russian Ministry of Agriculture. On 25 December 2013 the Central Bank of the Russian Federation issued the exchange license No. 045-008, formalizing its status as a licensed exchange. Over time the exchange expanded its activities to include organizing exchange trading of agricultural products through commodity auctions, spot trading in sugar and other goods, calculating grain crop market indices, and registering over-the-counter commodity contracts. The exchange is part of the Moscow Exchange Group. In early 2023 the group decided on group-wide certification under the international compliance management standard ISO 37301:2021. Auditors from Bureau Veritas Certification Rus assessed the effectiveness of compliance management and the group's unified methodologies and processes. Moscow Exchange and NCC confirmed conformity, while NSD and NTB underwent the certification audit for the first time, marking the group's first ISO 37301:2021 certification at group level. Irina Grekova, Managing Director for Compliance and Business Ethics at Moscow Exchange, commented on the achievement. Today the exchange publishes weekly commodity auction announcements listing buyers, products, delivery bases and volumes across Russian regions, covering grains such as wheat and oilseeds such as sunflower, rapeseed and soy.

  • 2023

    Moscow Exchange Group decides on group-wide ISO 37301:2021 certification; NTB passes the certification audit for the first time.

  • 2013

    Receives exchange license No. 045-008 from the Central Bank of the Russian Federation on 25 December 2013.

  • 2002

    National Mercantile Exchange established in July 2002.

  • 2002

    Begins participation in state commodity and procurement interventions in the grain market.

Products and positioning

Authorized exchange of the Russian Ministry of Agriculture and part of the Moscow Exchange Group, focused on organizing Russia's exchange commodity market.

  • Commodity auctions for agricultural products

    Exchange trading of agricultural products via commodity auctions, with weekly announcements listing buyers, products, delivery bases and volumes.

  • Spot trading in sugar and other goods

    Spot trading of sugar and other commodities on the exchange.

  • Grain crop market indices

    Calculation of grain crop market indices.

  • Registration of over-the-counter commodity contracts

    Registration of over-the-counter contracts with commodities.

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