Clearing and Settlements

Record Keeping for Futures Market Positions

Records are kept of positions on position accounts of MICEX Group Traders. A key position account, in which the positions opened at his own expense are recorded, is opened for every Trader upon acceptance for clearing maintenance by the clearing organization, as well as in the process of client registration for single client position accounts. Furthermore, a Trader can open additional position accounts to keep separate records of positions, including for the purpose of hedging.
When a Trader files an application, the number of the position account on which positions for transactions were opened by the clearing organization shall be recorded.
At the close of trading, open positions in each position account are cleared bilaterally. Then, the position account is only comprised of long or short positions after bilateral clearing of positions has been conducted.
Bilateral clearing of positions among position accounts is not performed.