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August 20, 2008
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Market History

1998

21 January

A new regional floor was opened in Nizhni Novgord.

30 June

Futures on the dollar with fixed minimal price and futures on the dollar with fixed maximum price were put into circulation. These instruments are futures in terms of the settlement method, but they are fully equivalent to call and put options correspondingly in terms of their features. A similar method of settlements for options is used on a number of leading exchanges, in particular, LIFFE and DTB. After these instruments had been put into circulation, the MICEX derivatives market acquired an important component peculiar to all developed exchange derivatives markets.

17 August

In connection with the Declarations of the RF Government and the RF Central Bank of 17 August 1998, which say about measures to normalize the financial and budget policy, on 17 August 1998, trading in the MICEX Derivatives Market Section proved to be impossible due to force majeur circumstances. On that day, trading in derivative instruments in the MICEX Derivatives Market Section were annulled and all transactions in derivative instruments were suspended.


 

MARKET HISTORY

  • 1998
 
«Moscow Interbank Currency Exchange»
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