Settlement price for the USD/RUB FX futures to be calculated on the basis of USDRUB_TOM

In accordance with recommendations of the MICEX-RTS Derivatives Market Committee, new specifications for USD/RUB FX futures contract took effect on June 18, 2012, after the June contracts were settled on FORTS.

By the new specifications, the settlement price of the contract is calculated as an average value of the USDRUB_TOM on the MICEX-RTS FX market between 12.00pm MSK and 12.30pm MSK multiplied by 1,000 US dollars and rounded off to integer value in accordance with the rules of mathematical rounding.

In addition, a range of the FORTS"s USD/RUB FX futures contracts is to be extended in terms of their expiration period. From 19 June USD/RUB FX futures with 24 contract months in the quarterly cycle and with six contract months in the monthly cycle will start trading on FORTS.

"We expect that contracts with a quarterly cycle will continue to absorb the bulk of liquidity. Short-term instruments are mainly of interest to clients from the real sector of the economy who wish to hedge against currency risks as such instruments provide a wide variety of hedging periods. We pay particular attention to this category of market participants as it represents an important factor for the development of the FX futures and options market. Hedgers" activity in this direction will entail involving other categories of participants to trade in these instruments", explains Evgeny Serdyukov, the Managing Director of Derivatives Market at MICEX-RTS.

For further information, please contact the Public Relations Department at (495) 363-3232.