MICEX reduces futures market margin rates
July 28, 2010
The MICEX announces that the margin rate on all future contracts will be reduced August 2, 2010. The move is made possible by the highly developed clearing and risk management system of the MICEX Group, providing broader screening and monitoring opportunities of the recent market environment and rapid respond to changes in market volatility.
The new margin rates are set with regard to the adequacy of the Reserve Fund cover of derivatives market risks and the capital of the MICEX Group.
The new margin rates are lower than margin rates on most similar instruments on the Russian futures market.
Reference:
The following currency futures are in circulation in the Futures market section (standard contracts) of the MICEX: US dollar, euro, and the euro/dollar exchange rate, as well as interest rate futures for the short – term MosPrime Rate. The total membership of the Futures Market section is 163 organizations.
Futures circulating on the MICEX Group futures market include: calculation futures for the MICEX Index, delivery futures for the shares of Sberbank, Gazprom, Lukoil, and Norilsk Nickel. The total number of futures market players in the MICEX is 123 organizations
There are 2 types of deliverable contracts in the futures market of the National Commodity Exchange (NCE): futures for grain of the 3rd, 4th and 5th grades (the volume of a contract is 65 tonnes) EXW (ex warehouse) – elevators of the South Federal District (SFD) of the Russian Federation, and futures for export grain (the contract volume is 60 tonnes), FOB (free on board), Novorossisk port. 47 elevators are accredited to supply EXW from SFD to NCE. Detailed information about the futures market of the MICEX Group is available on the website “Futures market.” http://www.micex.ru/futures/.
New margin rates 33.00 Кб