FORTS: A New Record In Trading Volume Of Futures On MosIBOR Overnight Rate

On August 10, 2007 on the Futures and Options on RTS market (FORTS) the trading volume on futures contracts on ruble overnight credit (deposit) rate MosIBOR (Moscow Inter-Bank Offered Rate) made up 1,56 billion rubles, which is equal to 1604 contracts. It is a record on the daily trading volume on futures on a short-term interest rate.

The previous record in trading volume of futures contracts on ruble overnight credit (deposit) rate MosIBOR made up 1,4 billion rubles or 1444 contracts.

Due to the growth volatility of rates on MBC market, FORTS market participants actively use the futures on MosIBOR overnight as an instrument, which protects from the credit cost growth.

Derivatives market of RTS – FORTS is a leading trading ground for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest in Russian range of instruments. These are 56 contracts (37 futures and 19 options) on shares of Russian companies, bonds, short interest rates, currency, RTS Index, oil, oil products and gold.

The trading volume on FORTS in 2006 exceeded 100 bln dollars. All in all there were made more than 5 mln trades with 89,6 mln contracts. Average daily open interest on standard contracts in 2006 grew by 259,5% in rubles and in December reached 5 bln dollars.