On July 7th, 2008 obligations under trades executed by equity market participants on OJSC RTS were for the first time fulfilled via electronic multilateral netting, a technology implemented by the exchange on June 30th, 2008 for settlement of CCP trades.
For settlement of trades concluded in the period from June 30th, 2008 to July 1st, 2008 RTS participants were to deliver assets in the amount of net obligations. All the participants fulfilled their obligations to the CCP in full.
Trading via the CCP without mandatory 100% advance depositing of assets with consolidation of trades into a single net position is an attractive opportunity for market participants because this enables a reduction of funds required for trade execution and settlement, simplified settlement procedures and improved market efficiency.
