On February 11th, 2008 in connection with the growing demand for short term interest rate futures an additional execution period on the MosIBOR ruble overnight credit (deposit) rate was introduced on FORTS.
Now, besides standard (quarterly) futures on the MosIBOR rate, contracts with execution in the nearest month (monthly futures) will be traded on FORTS.
On February 11th, 2008 futures on the MosIBOR rate with execution on February 14th, 2008 was already put into practice on FORTS.
FORTS, the derivatives market of RTS, is a leading trading venue for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest range of instruments in Russia. These are 63 contracts (44 futures and 19 options) on shares of Russian companies, bonds, short term interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.
Trading volume on FORTS in 2007 grew threefold and reached 297.41 bln dollars or144.9 million contracts. Compared with 2006 the number of trades increased more than twofold and reached 11.7mln. Total open interest at the end of the year equalled 14.7bln rubles in cash or 3.2 million contracts. FORTS also saw a record day’s trading in 2007 when the value of all contracts traded reached 5.2 bln dollars.
