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The launch of futures-style options on futures contracts on FORTS is tentatively scheduled for February 26, 2009.
Futures-style options are a totally new instrument on the Russian derivatives market that will open up vast opportunities for the market participants. Thanks to the consolidated system of risk evaluation for futures and futures-style options on futures contracts the funding costs will be reduced, and the risk management system will be optimized, which will provide for a qualitative development of the options market.
New versions of FORTS trading terminals and the associated documentation will be available at http://ftp.rts.ru/pub/FORTS starting from 7:00 pm MSK, February 20, 2009 and via the terminal’s automatic update system. The updated version of the module for calculation of the initial margin on the client level can be downloaded from http://ftp.rts.ru/pub/FORTS/ClientGO, starting from 7:00 pm MSK, February 20, 2009.
Please, make sure that RTS IT specialists have full access to access servers from 8:00 am MSK to 11:00 pm MSK, February 21, 2009.
The test run will take place on February 21, 2009 according to the following schedule (MSK):
1:30 pm – start of trading
2:30 pm – promo clearing
3:30 pm – clearing
4:00 pm – end of test run.
If you would like to take part in the test run, please, send you application at http://www.rts.ru/a18268/help@rts.ru. The registration is open till 2:00 pm MSK, February 20, 2009.
Please, note that the updated version of FORTS software (including the client module for calculation of initial margin) is already available for open beta testing. Participants of beta testing can make test trades and receive clearing reports. Users of the client module can test the algorithm of initial margin calculation prior to the launch of new instruments. If you want to connect to the test polygon, please send your application at beta-test@rts.ru.
All the information on the futures-style is published at http://ftp.rts.ru/pub/FORTS/New_Options/, including:
- Futures-style options overview;
- Project presentation;
- Samples calculations of initial margin and variation margin;
- Sample clearing reports (with focus on changes);
- New API version (with focus on changes).
