How the BRICS Exchange is Being Created and What It Will Offer BRICS+ Companies in 2025–2027

The catalyst was a decision: by July 1, 2026, relevant Russian agencies must present a plan for the creation of a BRICS exchange to develop mutual exchange trading, according to materials from the National Competition Development Plan for 2026–2030 as reported by TASS.

What Exactly Has Been Commissioned and By When?

By July 1, 2026, the Ministry of Economic Development, the Ministry of Finance, the Ministry of Agriculture, the Federal Antimonopoly Service, and the Ministry of Industry and Trade, with the participation of the Bank of Russia, are obliged to prepare and submit a report-plan to the government for the creation of a BRICS exchange for mutual exchange trading according to the approved document. This directive is included in the National Competition Development Plan for 2026–2030, which aims to increase economic efficiency and covers key sectors from agriculture and IT to financial markets and transport.

What Are the First Steps and the Stance of Regulators and Senators?

The first organizational contours have already been outlined: the Ministry of Economic Development is working on two tracks – inter-exchange "links" (a seamless trading space while maintaining operations within national legal regimes) and a neutral technological platform with the participation of local exchanges as stated by Dmitry Nekrasov, Director of the Department of Foreign Economic Affairs of the Ministry of Economic Development.

"The creation of a single BRICS exchange for trading goods and raw materials within the bloc based on national currencies will be a guarantee of economic sovereignty and independence for our countries."

This statement by Alexander Babakov, Deputy Chairman of the State Duma, was cited by Parlamentskaya Gazeta.

The practical complexity of the project is also emphasized: it will require synchronizing transport and logistics infrastructure, IT platforms, and the regulatory framework; preparation will take at least a year, warned the Federation Council during a thematic discussion.

What Are the Strategic Implications for BRICS Markets and Currency Architecture?

The main structural effect will be the shift of trade in strategic goods to national currencies and the formation of own price indicators instead of external benchmarks, which will support the economic sovereignty of the bloc's countries according to the assessment of roundtable participants. Additionally, it is expected to eliminate intermediaries and strengthen coordination within BRICS in the markets for grain, fertilizers, oil, and petroleum products, reducing transaction costs and increasing price transparency as discussed in the Federation Council.

Own indicators and seamless access to liquidity through "links" will reduce dependence on external venues and rules, and will also add resilience to geopolitical disruptions.

What Are the Tactical Risks and Opportunities for Businesses in 2025–2027?

Near-term opportunities include participation in pilots (primarily for the grain segment), access to partner venues' liquidity through inter-exchange "links," and cost reduction by eliminating intermediaries. Key risks include regulatory fragmentation, IT integration requirements, logistical bottlenecks, and the transition to national currency settlements.

What companies should do now:

• Assess the readiness of IT systems for connection: order routing, APIs, clearing and risk management standards.
• Conduct a compliance audit for national trading regimes and prepare a "legal map" of BRICS+ jurisdictions.
• Reshape currency policy: operational accounts in national currencies, access to local liquidity, hedging procedures without dollar derivatives.
• Restructure logistics for direct supplies and alternative routes within BRICS.
• Prepare pricing and risk models for the emergence of new price indicators.
• SMEs: proactively study listing/accreditation requirements for suppliers and "one-click trading" conditions being developed to expand access.

Timeline-wise: first informal multilateral consultations on a unified grain exchange are planned by the end of the year with the participation of interested countries (including Indonesia, Ethiopia, and South Africa, among those showing interest). The consultation phase is estimated to take at least a year according to data. The deadline for submitting the report-plan to the Russian government is set for July 1, 2026 according to materials from the National Plan.