Changes In The Trading System FORTS Due To The Launch Of The Daily Clearing Session

For the purpose of preparing for the launch of the daily clearing session (intermediate clearing), OJSC RTS specialists have introduced testing gates. The user’s manual and the order of connection process is placed on the server ftp://ftp.rts.ru/pub/FORTS/inter_clearing/. Available files:

• changes in the trading system FORTS due to the launch of the daily clearing session;
• main works in implementation of the intermediate clearing;
• new structure of clearing DBF files;
• “Connection of external systems (Gate)”
• the order of FORTS members’ actions for preparing for this innovation;
• presentation “New trading solutions of FORTS - intermediate clearing session”

On June 29, 2007 at the meeting of the Committee of the Derivatives market of OJSC RTS it was decided to introduce a daily clearing session.
Intermediate clearing – a technology, widely used by the Western derivatives markets, will come to existence on the Russian market of derivative instruments for the first time.

A new service will allow to speed the process of settlement between RTS Clearing center and clearing participants, will increase the reliability of the clearing system, will reduce risks of clearing firms when serving the clients on the derivatives market and will increase the effectiveness of holding trading transactions with futures and options by means of reducing the volume of the financial means, required for the trading.