Moscow Exchange expands calendar spread suite
Moscow Exchange is to introduce new calendar spreads in futures on the RTS Index, USD/RUB, Brent, gold, and the seven most liquid stocks (Gazprom, Sberbank ords and prefs, Norilsk Nickel, Lukoil, Rosneft, and VTB) on 3 and 4 September.
Moscow Exchange began offering calendar spread trades with RTS Index and USD contracts on 5 June. The total turnover of RTS Index and USD/RUB futures calendar spreads on that date was USD 20 mln.
Using new June contracts, participants rolled out RTS Index futures of more than USD 60 bln and USD/RUB futures of more than USD 130 mln.
Mr. Roman Sulzhik, Managing Director of Derivatives Market, said, "This service is widely offered on leading exchanges derivatives exchanges. Broadening the scope of calendar spreads available is a step towards integrating the Russian market with international financial centres and bringing it in line with international standards".
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