New specs for options on futures on Russian shares to come into force

New specifications for margined options on deliverable futures on Russian shares will take effect on 29 July.

The specifications include a new method for determining the last trading day for the options; this is necessitated by the transfer of delivery under the contracts to the T+2 market.

The last trading day for options will be the day preceding the last trading day for the relevant single stock futures. This will allow trading members to close out positions in single stock futures that are opened as a result of option settlement, and to avoid stock delivery.

When the new specifications come into force, the last trading day will be changed to 11 June 2015 for the options on Gazprom ord futures and Sberbank ord futures with settlement in June 2015 that were admitted to trading on 11 June 2014 .

For further information, please contact the Public Relations Department at (495) 363-3232.