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On February 13th, 2008 within the framework of the expansion of the range of instruments originating from the wider RTS Index – Telecom sector index futures contract has started on FORTS. The contract with execution in June, 2008 has been launched and has the trading system ticker - RTSt-6.08, short ticker: RkM8.
At present on FORTS, sector index futures are available on the RTS Index – Oil & Gas and the RTS Index – Consumer & Retail.
The introduction of a new sector index contract based on a subset of the RTS index, the RTS Index – Telecom, will allow futures and options market participants to expand the set of basic strategies available to them and to maximize returns from their operations on the securities market. The new contracts will be of interest to securities portfolio managers with common interests in the Telecommunications sector.
The RTS Index – Telecom is also suitable for the creation of index funds. Already the first open Russian sector index fund "B.I.N.BANK "RTS Index – Metals & Mining", has been launched with a net asset value equal to 14.53 mln rubles as of December 29th, 2007. At present, preparations for the launch of two open index unit investment funds, the "B.I.N.BANK "RTS Index – Electric Utilities" and "B.I.N.BANK "RTS Index – Oil & Gas" are underway.
RTS Index Telecom constituents (valid till March 14, 2008)
| N | RTS code |
Security name | Number of issued shares |
Free-float factor (Wi) |
Restricting coefficient (Ci) |
Weight |
|---|---|---|---|---|---|---|
| 1 | ENCO | OJSC Sibirtelekom, Common | 12 011 401 829 | 40% | 1 | 7,58% |
| 2 | ESMO | JSC CenterTelecom, Common | 1 578 006 833 | 35% | 1 | 6,44% |
| 3 | ESPK | OJSC FETEC, Common | 95 581 421 | 40% | 1 | 2,72% |
| 4 | KUBN | UTK PJSC, Common | 2 960 512 964 | 40% | 1 | 3,24% |
| 5 | MGTS | MGTS, Common | 79 829 200 | 5% | 1 | 1,56% |
| 6 | MGTSP | MGTS, Pref | 15 965 850 | 100% | 1 | 5,51% |
| 7 | MTSS | MTS OJSC, Common | 1 993 326 138 | 5% | 1 | 19,26% |
| 8 | NNSI | OJSC "VolgaTelecom", Common | 245 969 590 | 40% | 1 | 7,40% |
| 9 | RTKM | OJSC "Rostelecom", Common | 728 696 320 | 20% | 0,8623290 | 17,69% |
| 10 | RTKMP | OJSC "Rostelecom", Pref | 242 831 469 | 100% | 0,8623290 | 7,31% |
| 11 | SPTL | North-West Telecom, Common | 881 045 433 | 40% | 1 | 7,92% |
| 12 | SPTLP | North-West Telecom, Pref | 250 369 337 | 100% | 1 | 3,77% |
| 13 | URSI | O.J.S.C. "Uralsvyazinform", Common | 32 298 782 020 | 35% | 1 | 9,60% |
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 63 contracts (44 futures and 19 options) on shares of Russian companies, bonds, short term interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.
For the first 9 months of 2007 the trading volume on FORTS exceeded 166 bln dollars. From January to September 2007 more than 7.2 mln transactions consisting of 93.5 mln contracts were executed on FORTS. Average daily open interest on standard contracts in 2007 grew by 102.6% and in September reached a value of 8 bln dollars.
