Futures and Options On RTS Stock Exchange Initial Margin Changes For The Holidays

On April 28th, 2004, the RTS Stock Exchange decided, at the Derivatives Market Committee recommendation, to set the size of the initial margin for contracts based on single stocks and S&P/RUIX index, at 20% of the value of the contract. The change will be in effect from April 29th, 2004, to May 11th, 2004.

FORTS, a unified derivatives market operating since September 19, 2001, is based on trading and settlement technologies and software that were implemented at and have been successfully used by St. Petersburg Stock Exchange for 8 years. RTS acts as the trading system and the clearinghouse on the integrated market. 84 companies headquartered in Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Samara, Rostov-on-Don, Kazan and Abakan are the registered members of FORTS. They trade 8 futures contracts and 3 options.