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In accordance with the recommendation issued by the Derivatives Market Committee JSC "RTS Clearing Center" increases the size of initial margin as described below:
- As of the evening clearing session of June 9th, 2008 – for delivery futures contracts with settlement on June 16th, 2008;
- As of the evening clearing session of June 10th, 2008 – for the rest of futures contracts:
| Futures contracts | Initial margin size |
|---|---|
| Non-delivery futures contract on RTS Index | 10% |
| Non-delivery futures contract on RTS Consumer & Retail Index | 10% |
| Non-delivery futures contract on RTS Oil & Gas Index | 10% |
| Non-delivery futures contract on RTS Telecom Index | 10% |
| Delivery futures contract on MMC "NORILSK NICKEL" | 15% |
| Delivery futures contract on "Gazprom" | 15% |
| Delivery futures contract on "Lukoil" | 15% |
| Delivery futures contract on "Rosneft" | 15% |
| Delivery futures contract on "Rostelecom" | 15% |
| Delivery futures contract on "Sberbank" | 15% |
| Delivery futures contract on "Surgutneftegaz" | 15% |
| Delivery futures contract on JSC VTB Bank | 15% |
| Delivery futures contract on MTS OJSC | 20% |
| Delivery Futures on OAO "Severstal" | 20% |
| Delivery futures on OAO "HydroOGK" | 20% |
| Delivery futures contract on NOVATEK | 20% |
| Delivery futures contract on OJSC "Polyus Gold" | 20% |
| Futures contract on Transneft privileged shares | 20% |
| Delivery futures contract on OAO "Tatneft" | 20% |
| Delivery futures contract on O.J.S.C. "Uralsvyazinform | 20% |
| Delivery futures contract on "Sberbank" privileged shares | 20% |
| Delivery futures contract on granulated sugar, produced in accordance with all-Union State Standard 21-94 | 8% |
| Futures on gold | 7,5% |
| The contract on refined silver | 10% |
| The contract on "URALS" oil | 10% |
| Delivery futures contract on Gas oil L-0,2-62 (all-Union State Standard 305-82) |
The present changes will be in effect till the evening clearing session of June 16th, 2008.
FORTS, the derivatives market of RTS, is a leading trading venue for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest range of instruments in Russia. These are 64 contracts (46 futures and 18 options) on shares of Russian companies, bonds, short term interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.
Trading volume on FORTS in 2007 grew threefold and reached 297.41 bln dollars or 144.9 million contracts . Compared with 2006 the number of trades increased more than twofold and reached 11.7mln. Total open interest at the end of the year equalled 14.7 bln rubles in cash or 3.2 million contracts. FORTS also saw a record day’s trading in 2007 when the value of all contracts traded reached 5.2 bln dollars on December 13th, 2007.
