Settlement of futures and options contracts for Urals oil will be performed in rubles based on pricing information supplied by Platts (Urals-ex-Baltic Sea CIF R'dam). The contract's volume equals 10 barrels, the price for futures contact is indicate in US dollars for one barrel of crude oil. Minimal initial margin will amount for 10%. RTS will charge the fee equal to 1 ruble per contract.
The first deal with oil contracts has marked itself the beginning of the commodity market's work on FORTS (Futures&Options on RTS). The future contracts on gold application has begun with Urals oil trading on commodity market FORTS.
The stock-exchange contracts on the raw comodities allow producers and consumers insure from an adverse price conjuncture and to make business more effective and stable. With the start of commodity futures the participants of financial market receive the additional investment instrument. The futures contract on Urals oil appearance - step to the fastenings of the Russian standard of oil at a level comparable to WTI and Brent marks", - sais Jacque Der Megredichjan, "Troyka Dialogue" Managing Director and RTS Board of Directors Chairman.
"The beginning of the cash-settled futures contracts on oil and gold is a first stage of commodity market development on FORTS", - sais the RTS President Oleg Safonov. "The further expansion of commodity contracts ruler will be realized due to options on oil and gold, and also futures on oil products".
"Today is sign event for the Russian financial market - the Russian oil and gold became a subject of sale and purchase at stock exchange", - comments new exchange instruments forthcoming the President of the Russian Exchange Union Anatoly Gavrilenko. "Financial contracts on oil allow to take part in the trading not only to producers and consumers, participants of the financial market, but also to private investors. It is enough to have about 2000 roubles for contract on oil purchase, and for the future on gold - about 1000 roubles".
