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January 2008 is marked by significant increase of activity on MICEX currency futures market. The average daily volume in US dollar futures has reached 656 000 contracts exceeding the similar rate of year 2007 (344 000 contracts) almost twice. Open interest has set a new historical high of 6 828 700 contracts (168,2 billion Russian roubles notional amount). This record figure is 40% higher than the last 2007 trading day’s number.
MICEX US dollar future has proved to be one of the most actively traded contract on the Russian derivatives market. Overall local turnover in January has exceeded CME’s figures for USD/RUB futures in 6,5 times , while the open interest is 4 times higher than the CME’s one.
