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According to the decision taken by the RTS derivatives Committee for the period of New Year’s holidays the size of Initial margin will be increased in two stages:
- From the evening clearing session of December 24th, 2007 to the evening clearing session of December 26th 2007
- From the evening clearing session of December 26th, 2007 to the evening clearing session of January 9th, 2008
The increase of Initial margin for the period of holidays will be performed in the following way
| Contract | December 24 - 26, 2007 |
December 26, 2007 – January 09, 2008 |
|---|---|---|
| Futures contracts on RAO UES, “Lukoil”, “Gazprom”, “Rosneft”, "Surgutneftegaz", "Rostelecom", "Sberbank", MMC "NORILSK NICKEL", MTS OJSC, NOVATEK, JSC “OGK-3”, JSC "OGK-4", JSC "OGK-5", O.J.S.C. "Uralsvyazinform", JSC VTB Bank, | 20% | 25% |
| Futures contracts on RTS Oil & Gas Index, RTS Consumer & Retail Index | 10% | 15% |
| Contracts on the ruble overnight credit (deposit) rate MosIBOR (Moscow Inter-Bank Offered Rate) with settlement in March 2008 | 10032 rubles | |
| The contracts on the rate of the rouble three-monthly credit (deposit) on the interbank market of Moscow MosPrime with settlement in March 2008 | Per cent
taken from settling price, equivalent to 5000 rubles |
|
| Futures on gold | 7,5% | 12,5% |
| The contract on refined silver | 10% | 15% |
| Futures on "URALS" oil | 10% | 15% |
| Futures on Gas oil | 10% | 15% |
| Futures contract on USA dollar | 3,5% | |
| Futures contract on Federal loan bonds | 5% | 7,5% |
| Futures on сorporate bonds | 7,5% |
Derivatives market of RTS – FORTS is a leading trading ground for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest in Russian range of instruments. These are 58 contracts (39 futures and 19 options) on shares of Russian companies, bonds, short interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.
The trading volume on FORTS for 9 months 2007 exceeded 166 bln dollars. In FORTS From January to September 2007 there were executed more than 7,2 mln Transactions with 93,5 contracts. Average daily open interest on standard contracts in 2007 grew by 102,6% and in September reached 8 bln dollars.
