Testing of perpetual futures termination feature

Moscow Exchange sets up testing of perpetual futures termination feature. Testing period will be from 24.08.2022 to 15.12.2022 inclusive.

You can send execution order for perpetual futures CNYRUBF every Wednesday during the testing period on the T1 test environment. At the same time, the expiration date of quarterly futures CNY-9.22 (after September, 15 – CNY-12.22) RUB will be set up for the near Thursday.

Execution orders are submitted using the gateway command FuturesExecutionRequest or through the MOEX Spectra Terminal. Execution orders can be canceled until the end of the trading day. Execution orders can be submitted by both long and short position holders.

As a result of execution (in the evening clearing session), position in perpetual futures will be closed (via technical off-set deals) and position in the nearest quarterly futures will be open.

The scope of testing involves only the termination of obligations under the perpetual futures and the transfer of a position from the perpetual futures to the quarterly futures – the standard mechanism for the expiration of quarterly futures is out of the scope. In this regard, the expiration date of the quarterly futures every Wednesday after the termination of obligations on the perpetual futures will move a week ahead. As a result, CNY-9.22 expires on 15.09.2022 and CNY-12.22 expires on 15.12.2022.