Due to the introduction of a new statistical data processing system, the consolidated procurement data are given for the period from 1 May 2015 to 31 December 2015
The procurement process is centralised within the Moscow Exchange Group and is governed by the Regulations on Moscow Exchange Procurement Activities and procedures for procurement interaction between Moscow Exchange and other Moscow Exchange Group companies. Proposals are benchmarked against the cost of service in the previous period, or the best bid is selected from a short list of proposals of similar quality. Costs are benchmarked against the market, and any changes in cost are analysed. Depending on the value, transactions are approved at the level of the procurement unit, Procurement Commission, Executive Board or Supervisory Board. For each transaction, regardless of the value, records of procurement activity are kept and approved, indicating savings achieved and methods used to calculate savings. The Security Department assesses counterparty risks for all suppliers. Audit data are valid for no more than one year. Based on audit results, no contracts are awarded to suppliers with a high level of risk. Assessment covers only economic risks.
The current procurement system allows for the reliable selection of the technologically best offering, provides necessary transparency in the relationship with suppliers, and promotes competition
Priorities of Moscow Exchange’s overall supply chain management strategy
- Information transparency of related procurement — any supplier can fill out the supplier form on Moscow Exchange’s website (http://moex.com/s273), and auctions are held on the B2B-centre electronic trading platform.
- Equality, fairness, no discrimination or unreasonable restrictions on competition among procurement participants: price negotiations are held only with bidders with proposals of similar quality;
- No additional commercial competitive stage is allowed after the announcement of the final request for proposals. An exception is a change in the terms of reference substantiated by the Initiator, or resulting from the consolidation of procurements, which is considered a new procurement. However, additional commercial negotiations can only be held with the winner.
- The consolidation of volumes and the awarding of long-term contracts achieve with the aim of achieving maximum economic effect.
- Aiming to expand the competitive environment by attracting alternative manufacturers.