FORTS, the derivatives segment of the RTS Group, posted 3 021 million dollars in trading volume, 32% of the Group's total turnover. Average daily turnover in contracts increased more than threefold; average daily number of trades grew 2,9 times to 2 168 trades a day. On December 31, 2002, total open interest stood at 292 thousand contracts and 37 million dollars, a 2,1 and 3,5-time increase over the appropriate figures in 2001.
Based on the 'Guaranteed Trading System" and unified 'Gazprom' technologies, in September 2002 the RTS Stock Exchange and St. Petersburg Stock Exchange jointly launched a new product - the Order-Driven market. Trading on the market is anonymous, with preliminary deposition of ruble-denominated assets. Total trading volume on the Order-Driven market, former GTS and 'Gazprom' markets reached in 2002 1,5 billion US dollars, or 15,5% of total volume, a 5,5 times increase on the year.
Bond trading accounted in 2002 for 3,7% of the RTS Group total trading volume, or 353 million US dollars. RTS Bonds - the system facilitating trading in corporate, municipal, governmental bonds and Eurobonds - was introduced on June 3, 2002. By the end of the year the total RTS Bonds trading reached 346 million US dollars.
Five bond intial public offerings that listed on the RTS Stock Exchange in 2002 - Republic of Sakha, "PROMIF", "Irkustk Aviation Industrial Association", "Evrazholding", and "Mellyanneft" - raised 46 million dollars.
In 2002 the total trading volume on the RTS Board, the system of indicative quoting of securities, not listed on the RTS, grew 4,5 times and amounted to 68 million US dollars (0,7% of total turnover), a significant increase of 15 million dollars in 2001.
