April 3, 2008

The trading volume in the MICEX derivatives market for March-08 totaled 222,4 billion RUB ( 9,1 million contracts). The total open interest at the end of the month — 129,5 billion RUB (5,2 million contracts)

	March-08	Change to	February-08	January-08
USD/RUB futures
Trading volume (contracts)*	9 106 180	10%	8 291 446	10 823 197
Trading volume (RUB m)	218 666	7%	205 057	266 345
Quantity of transactions	382	-13%	441	423
Open interest, end of month ((contracts)*	5 241 005	-16%	6 268 150	6 941 295
Open interest, end of month (RUB m)	124 607	-18%	152 058	170 737
Interest rates futures
Trading volume (contracts)**	363	-67%	1 103	310
Trading volume (RUB m)	3 620	-67%	10 987	3 093
Quantity of transactions	18	-76%	76	27
Open interest, end of month (contracts)**	492	-23%	643	219
Open interest, end of month (RUB m)	4 905	-23%	6 407	2 168
MICEX Index Futures
Trading volume (contracts)***	4 080	-9%	4 465	2 563
Trading volume (RUB m)	133	-10%	148	93
Quantity of transactions	193	-18%	235	94
Open interest, end of month (contracts)***	215	-8%	233	357
Open interest, end of month (RUB m)	7	-10%	8	11
Total
Trading volume (contracts)	9 110 623	10%	8 297 014	10 826 070
Trading volume (RUB m)	222 419	3%	216 192	269 532
Quantity of transactions	593	-21%	752	544
Open interest, end of month (contracts)	5 241 712	-16%	6 269 026	6 941 871
Open interest, end of month (RUB m)	129 519	-18%	158 473	172 916

* Trading unit — $1000. ** Trading unit — RUB 10 mln. *** Trading unit — RUB 20 times MICEX Index

The largest trading volume on March-08 was in USD/RUB futures totaling 9 106 180 contracts per month

Code	Contract month	Trading volume (RUB)	Trading volume (contracts)	Share in trading volume
FSUSD83	March-08	3 149 117	131 145	1%
FSUSD84	April-08	76 830 746	3 243 135	35%
FSUSD85	May-08	8 901 002	375 200	4%
FSUSD86	June-08	30 688 419	1 285 200	14%
FSUSD87	July-08	7 396 230	310 000	3%
FSUSD88	August-08	0	0	0%
FSUSD89	September-08	23 433 982	969 000	11%
FSUSD8C	December-08	36 051 798	1 480 000	16%
FSUSD93	March-09	32 214 411	1 312 500	15%
FSUSD96	June-09	0	0	0%
Total:		218 665 705	9 106 180	100%

The largest OI at the end of the month was in USD/RUB futures totaling 5 241 005 contracts

Code	Contract month	Open interest, end of month (RUB)	Open interest, end of month (contracts)	Share in open interest
FSUSD83	March-08	0	0	0%
FSUSD84	April-08	14 858 635	631 275	12%
FSUSD85	May-08	21 356 259	906 655	17%
FSUSD86	June-08	24 557 829	1 039 925	20%
FSUSD87	July-08	4 831 230	204 000	4%
FSUSD88	August-08	0	0	0%
FSUSD89	September-08	28 319 586	1 188 650	23%
FSUSD8C	December-08	19 193 895	798 000	15%
FSUSD93	March-09	11 489 452	472 500	9%
FSUSD96	June-09	0	0	0%
Total:		124 606 886	5 241 005	100%