Micex | News Room | Daily trade volume on the MICEX derivatives market has surpassed 1.3 billion dollars

Daily trade volume on the MICEX derivatives market has surpassed 1.3 billion dollars

August 16, 2007

The volume of trading on the MICEX derivatives market continues to grow rapidly. A new historical maximum was reached on 15 August 2007. The total volume of trading on the MICEX Group▓s derivatives market amounted to 41.5 billion rubles, which exceeded 60% of the total daily turnover for the Russian exchange-based derivatives market. The previous record (33.67 billion rubles) was reached on 14 August.

A new record-high volume of trading in the US dollar futures was reached in the course of trading on the MICEX derivatives market on 15 August 2007. The daily trade volume surpassed the figure of 1.5 million contracts (1.5 billion US dollars) and amounted to 1 591 000 contracts or about 40.75 billion rubles in money terms. After the execution of the August series of the futures, open interest amounted to 3.94 million contracts (101.1 billion rubles).

As a result, in the first half of August, the volume of trading in currency futures on the MICEX, which amounted to slightly less than 9 million contracts, reached the monthly figure for July this year (9 133 597 contracts), a historical maximum since the launch of trading of the US dollar futures in 1996.

Record-high figures of August secured the growth of the MICEX Group▓s share on the Russian exchange-based derivatives market to 42% of the total monetary volume of trading in derivatives. The MICEX Group▓s share grew 1.4 times (from 30%) against July this year. The results of the recent days show that the US dollar futures has become the most actively traded instrument on the Russian derivatives market. Thus, the MICEX Group has strengthened its positions on the Russian market for financial derivatives.

The following currency futures are traded in the MICEX Derivatives (Standard Contracts) Market Section: US dollar futures, euro futures and EUR/USD futures as well as futures on the compounded MosIBOR overnight interest rate and the 3-month MosPrime Rate, which are calculated by the National Foreign Exchange Association (NFEA) and are the most representative indicators of the Russian money market. To promote the growth of liquidity of the interest-rate futures market, the MICEX has introduced the institution of market makers on its derivatives market. Market makers maintain regular bilateral quotations for corresponding contracts. The total number of members of the Derivatives Market Section is 185 organizations.

At the end of June 2007 trading was launched on the derivatives market of the MICEX Stock Exchange. The first contract to be traded in this section is the MICEX Index futures. Market makers maintain regular quotations for the MICEX Index futures. The total number of participants in trading on the MICEX Stock Exchange▓s derivatives market has reached 68 organizations, including 29 credit and 39 non-credit institutions. Over 50 organizations have applied for admission.

Find more information on the MICEX Group▓s derivatives market on the ⌠Derivatives Market■ page of the MICEX web site (http://www.micex.ru/futures/) or call at (495) 705-9612.