Futures & Options On RTS Stock Exchange - June Futures Contracts Settled And Delivered

FORTS (Futures & Options on RTS) June futures contracts were settled and delivered on June 15th, 2004, with total volume reaching 563 million rubles, 17% up on 563 million rubles in March 2004. The most popular contracts among those settled were ?Gazprom? single stock futures (260 million rubles) and US dollar (128 million rubles).

Futures Contracts Settlement Statistics

Contract Name	Number of Contracts Settled	Number of Contracts Unsettled	Price, RUR/contract	Volume of Contracts Settled, RUR	Volume of Contracts Unsettled, RUR
GAZR-06.04	47 179	5	5 516	260 239 364	27 580
EERU-06.04	12 451	87	7 940	98 860 940	690 780
LKOH-06.04	15 260	3	7 602	116 006 520	22 806
SNGR-06.04	19	72	18 248	346 712	1 313 856
RTKM-06.04	776	6	6 000	4 656 000	36 000
RUIX-06.04	1 216	0	41 053	49 920 448	0
Si-06.04	4 425	0	29 015	128 391 375	0
Total				658 421 359	2 091 022

The volume of unsettled obligations equaled 2, 1 million rubles or 0.3% of the total volume. In accordance with Decree N 03-54 issued by the Federal Securities Market Commission on December 26th, 2003, the RTS Stock Exchange is disclosing the names of the companies that failed to fulfill their settlement and delivery obligations:

GUTA-Bank
?Prospect? Investment company
FINAM
CenterInvest Securities
Zerich Capital Management
?Elemte? Investment company.

In accordance with contract specifications and Clearing policies on FORTS a clearing member that failed to deliver and/or settle a contract is subject to a fine equal to 20% of the contract price. Clearing members who suffered losses because of the delivery and/or settlement failure will be awarded compensation equal to the guarantee fund payment.

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. 86 companies from Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Samara, Rostov-on-Don, Kazan and Abakan FORTS participants trade 8 futures contracts and 3 options.