Russian Eurobond futures to begin trading
Moscow Exchange will launch trading in futures on the Russian Federation"s sovereign 2030 maturity Eurobond on 16 September.
Roman Sulzhyk, Derivatives Market Managing Director, commented on the new product launch:
"The futures will provide access to the liquid sovereign Eurobond market for a wide range of investors including commercial banks, portfolio managers, and private investors. The contract could be viewed as a dollar denominated contract on Russia"s credit risk, an analogue of the credit default swap (CDS) on Russia."
The Russian sovereign and corporate Eurobond market is highly liquid and totals approximately US$230 bln.
Renaissance Capital and Derzhava Bank will act as market makers for the new contract.
For further information, please contact the Public Relations Department at (495) 363-3232.