Using Stock Exchange Indices to Determine Market Prices in Legal Procedures

The goal of exchange trading is to organize trading activities and, as a secondary effect, to establish exchange prices. The availability of representative price information ensures a trust-based environment on the financial and commodity markets, reduces the risks of manipulation, and allows for the more effective management of market risks. Data from international pricing agencies does not always reflect representative information about market prices on the Russian commodity market. In addition, the departure of several international information agencies from the Russian market has resulted in companies experiencing difficulties in obtaining the representative information needed to conclude transactions and fulfil their obligations on the Russian market. The use of price indicators is essential for public administration in many areas: the financial market, antitrust regulation, and determining the market price and comparability of transaction terms for tax purposes. In addition, the use of exchange indicators by courts is of paramount importance when determining the value of property in the event of a dispute about its price. In such a situation, exchange prices and indicators play a greater role as a factor for determining the market nature of prices, which requires a further discussion about expanding the scope of their use.