Moscow Exchange launches trading in Russian Government Bond Index futures

On 28 February 2022, the Moscow Exchange Derivatives Market will start trading a cash-settled futures contract on the Russian Government Bond Index (RGBI).

The new instrument provides Russian and foreign investors with additional opportunities to diversify and hedge their securities portfolios, including by opening a position on the entire government bond segment in one transaction, without the need to purchase individual securities.

The underlying asset of the futures, the RGBI Index, is the benchmark of the Russian government debt market, as calculated on a quarterly basis since 2002. It includes the most liquid federal loan bonds (OFZ) with a duration of one year or more.

The tick of the contract will be one point, the tick value will be RIB 1. The contract will be executed quarterly in the intraday clearing period on the first business day of March, June, September and December at the last closing price of the RGBI Index multiplied by one hundred. Contract series with settlement in June 2022 will be admitted to trading.

Specifications for the new instruments are available on the Moscow Exchange website.

Deliverables futures on the OFZ basket are currently available on the Derivatives Market.

Moscow Exchange (MOEX) is Russia’s largest exchange operating the country’s only multifunctional trading platform for equities, bonds, derivatives, currencies, money market instruments and commodities. As of the end of January 2022, more than 17.4 million retail investors held above 28.8 million brokerage accounts on MOEX. More than six thousand investment instruments are available.
The market currently offers 97 futures contracts and 47 options on futures. Underlying assets include equity indices, shares, currency pairs, real estate, precious and industrial metals, oil, gas and other commodities, as well as interest rates. The Moscow Exchange Derivatives Market is open from 07:00 to 23:50 MSK. The total volume of derivatives traded on MOEX in 2021 increased by 21.7% to RUB 158 trillion.