On January 12, 2006, for the first time in the history of the MICEX Derivatives Market the open interest reached USD 2 billion in notional value (2 034 640 contracts). This new record was set shortly after previous milestone figure of USD 1 billion registered on December 21, 2005. December was also the highest volume month for the MICEX Derivatives Market: trading volume reached 2,3 mln contracts (USD 2,3 billion or RUB 66,3 billion in notional value), 2,4 times up from November and 5 times up from the total volume of 2004. On December 28 trading volume reached the new record figure of 442,5 thousand contracts (USD 442,5 million or RUB 12,7 billion).
In 2005 the MICEX futures market demonstrated notable development: the total trading volume reached RUB 186,8 billion in notional value, up 14 times compared with 2004, the year-end open interest grew 14 times also.
The trading activity was accompanied by increase of the number of market participants. Today, there are 164 members of the MICEX Derivatives Market Section, including most of Russia’s leading banks.
