MOEX says to launch Alibaba, Baidu stock futures trading

MOSCOW, Aug 17 (PRIME) – The Moscow Stock Exchange will launch trading in the futures for the Chinese companies on August, 24, starting with futures for Alibaba and Baidu depositary receipts, the MOEX said on Tuesday.

“On August 24, 2021 delivery futures contracts for Alibaba and Baidu depositary receipts will start trading on the Moscow Exchange derivatives market. These are the first futures contracts for the securities of the Chinese companies on the Russian exchange market," the statement said.

The new instruments will add to the range of share derivatives and open up new trading opportunities for the Russian market participants and their clients on the global markets, the exchange said.

The participants will have access to the futures contracts with execution in September and December 2021. The trading codes are BABA (Alibaba) and BIDU (Baidu). The contract lot is one depositary receipt, the price step is one Russian ruble, prices are in rubles per depositary receipt. Two series of futures with quarterly execution on the third Friday of the month in the evening clearing will be available for trading at the same time.

Alibaba Group is China's largest Internet company and has been operating in e-commerce since 1999. The group owns several subsidiaries and online marketplaces, including Alibaba Pictures, Alibaba.com, AliExpress.com, Taobao.com, Tmall.com.

Alibaba Group, Megafon, Mail.ru Group and the Russian Direct Investment Fund established a joint venture in Russia and the CIS, AliExpress Russia, in October 2019.

Baidu, Inc. is a Chinese company that provides Web services, the key being the search engine of the same name, and is actively developing artificial intelligence and unmanned driving technologies.

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