Moscow Exchange to launch mini-futures on MICEX index Aug 17

MOSCOW, Aug 13 (PRIME) -- Russia’s Moscow Exchange plans to launch futures trading of the MICEX index with a low face value and low collateral, which may be interesting to retail investors, the bourse said in a statement Thursday.

The price of the new instrument will equal points of the MICEX index. The price increment is set at 0.05 points worth 50 kopecks. The exchange fee is set at 30 kopecks per contract. This means that if the MICEX index stands at 1,700, the contract will cost 1,700 points with a 17,000 ruble face value and 1,700 ruble collateral.

Market participants will get access to futures maturing in December and March 2016, with options for these futures maturing in October, November and December and in January, February and March of 2016.

The new contract targets a wide range of private investors that are implementing strategies tied with movements of the ruble-denominated share prices, and who do not want to take currency risks, the bourse said referring to its Derivatives Market Managing Director Kirill Pestov.

Companies ALOR+, ITinvest, BCS and Best Efforts Bank will become the market-makers of the new instrument. Support of options from market-makers over the instrument will begin from September 15.

(65.0169 rubles – U.S. $1)

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