Moscow Exchange announces changes to trading in the Light Sweet Crude Oil futures contract nearest to expiry

Moscow Exchange is suspending trading in the Light Sweet Crude Oil contract (contract CL-4.20) expiring on 21 April 2020 at the day trading session on 21 April 2020. This decision was taken to prevent market participants and their clients from incurring additional negative consequences as a result of the unprecedented decline on 20 April in prices on the corresponding contract on NYMEX.

During the 21 April intraday clearing session, exercise of the Light Sweet Crude Oil settled futures contract will take place with exercise in April as per the specifications of the contract and the trading and clearing rules. The exercise price of the contract is set at the settlement price of the corresponding futures at the close of trading on 20 April on NYMEX: -$37.63 per barrel.

Given the expiration of the contract on NYMEX, the shortening of the trading period by a half-day on Moscow Exchange will not impact pricing.

All other Light Sweet Crude Oil and Brent futures and options contracts will continue to trade as normal.