Exchange Committees

Exchange Committees

 

in Russia, permanent and elective organs at exchanges; one of the forms of “representative organizations” of the Russian bourgeoisie. The first exchange committee appeared at the St. Petersburg Exchange in 1816; a Moscow exchange committee arose in 1837. By 1870 there were 17 exchange committees.

In 1870 the tsarist government confirmed the charter of the Moscow Exchange, which was later extended to other cities. In accordance with this charter, prominent merchants, factory owners, and bankers obtained the right to elect exchange committees for a period of several years. Exchange committees of central cities were headed by prominent representatives of commercial, industrial, and financial capital. The chairman of the Moscow Exchange Committee for many years was G. A. Krestovnikov; of the Kharkov Exchange Committee, N. S. Avdakov; and of the committee in Kiev, L. I. Brodskii.

The competence of an exchange committee was limited fundamentally to the consideration of economic questions. In 1905 exchange committees were permitted to send representatives of commerce and industry to the State Council. In 1906 exchange committees became members of the all-Russian bourgeois organization, the Congresses of Trade and Agriculture Exchanges.

By 1917 there were 101 exchange committees in Russia. After the February Revolution, exchange committees became members of the All-Russian Commercial and Industrial Union. After the victory of the Great October Revolution at the end of 1917, the activity of the exchange committees ceased. During the Civil War, they continued to function in territories under White Guard governments.

N. IA. EIDEL’MAN

References in periodicals archive ?
Since the 1970s, different codes ("Codes") have been issued by foreign exchange committees and trade associations in jurisdictions with significant FX markets.
"The Foreign Exchange Committees in Hong Kong, London, New York, Singapore[,] and Tokyo each produce and maintain their own Codes.
Accordingly, the various Foreign Exchange Committees around the world have worked together to enhance communication and coordination, share information on Committee initiatives and projects, and to exchange perspectives on developments and trends in the global foreign exchange market.
Representatives of the FAS told that in the Russian Federation this happens within the framework of the commercial infrastructure of the market, which includes the exchange site and the Exchange committees. Then the guests took a direct part in two meetings of the Exchange Committee: on benchmarking, where issues of formation of price indicators for export-futures contracts for Urals crude oil, and for oil and oil products were discussed.
It never occurred to me that state exchange committees would sit around talking about rare language translation services so long they'd put off working on the enrollment systems.
The document was approved and endorsed by the eight committees at the annual global foreign exchange committees meeting, held in Tokyo on 23 March this year,which updates the original version published in 2013.
This publication is said to reflect the shared commitment to developing and promoting clear, robust and implementable best practise guidance of the Australian Foreign Exchange Committee; Canadian Foreign Exchange Committee; ECB's Foreign Exchange Contact Group; Hong Kong Treasury Markets Association; London Foreign Exchange Joint Standing Committee; New York Foreign Exchange Committee; Singapore Foreign Exchange Market Committee; and the Tokyo Foreign Exchange Market Committee.
Jack has also served on the Bank of England and US Federal Reserve Foreign Exchange committees between 1999 and 2007.
He has also served on the List Advisory and Exchange committees, and the ATLA PAC Board of Trustees.
He is chairman of Finsbury Investment Trust and on both the Financial Services Authority and Stock Exchange committees.
We welcome this initiative to strengthen the market and have been actively engaged in the development of the Global Code as members of the Market Participants Group (MPG) and through participation in various regional Foreign Exchange Committees (FXCs).
Eidson also serves on the Technology Task Force Committee, ATLA's List Advisory and Exchange committees, and the ATLA PAC Board of Trustees.

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