MOEX launches the RTS Index futures contract (mini)
On 27 July 2021 MOEX will start trading in RTS Index futures contract (mini) with a contract's volume ten times less than that of RTS Index futures contract. The contract will be traded under RTSM code.
The underlying asset of the contract is the RTS Index calculated by MOEX. A minimum price fluctuation for the contract (the tick) is 0.5 point. The tick value is denominated in RUB. It is USD 0.1 converted into RUB at the USD/RUB FX rate. Therefore, the contract’s notional value and amount of collateral will be 10 times less than those for the RTS Index futures contract. From the very first day of trading, market participants will have access to contract series with execution in September and December 2021, March and June 2022.
The new instrument will create more trading opportunities for a diverse group of Russian retail investors. As of today, the number of retail investors on MOEX is nearly 13 million. MOEX is actively expending availability of exchange-traded derivatives contracts available for them, also through offering contracts with a lower notional value.
The RTS Index futures contract was launched in 2005. It is the second most popular MOEX-traded index instrument listed among TOP-15 index contracts (according to Futures Industry Association – FIA). MOEX Russia Index futures contracts (mini) are also available for trading members. The contract's value is ten time less the underlying MOEX Russia Index Futures. Since its launch in 2015, the mini contract has averaged 24% of the trading volume in MOEX Russia Index futures contracts.
The Moscow Exchange Derivatives Market is a leading derivatives trading venue that combines an advanced infrastructure, reliability and guarantees, and state-of-the-art futures and options trading technology. The market currently offers 80 futures contracts and 47 options on futures. Underlying assets include equity indices, shares, currency pairs, precious and industrial metals, oil, gas and other commodities, as well as interest rates. In 2021 the average daily trading volume on MOEX Derivatives Market was 605 RUB billion. The number of open accounts now exceeds 5.4 mln.