First Day Trading Volumes of MOEX’s USD/RUB Futures Reach $6.6 Million

Russia’s key trading venue, Moscow Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (MOEX), today released the trading statistics of the first day of its new USD/RUB FX futures, which showed a modest interest from market participants in the deliverable instrument, according to a MOEX statement.

MOEX said that trading volumes of USD/RUB deliverable futures amounted to 65 trades totalling RUB 415.7 million ($6.6 million) on Monday 18 July, 2016, the first trading day of the new product.

Earlier this month, Moscow Exchange expanded its FX product set to offer new opportunities to FX market participants. The exchange introduced new deliverable futures contracts on USD/RUB, EUR/RUB and CNY/RUB currency pairs. The lot size of the new contract is 100,000 currency units, with a tick size of RUB 0.01 for USD/RUB and EUR/RUB and RUB 0.001 for CNY/RUB. Contracts will be settled quarterly on fixed dates and can be offset with Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term on the same underlying assets.

Recognized Hub for Ruble Trades

MOEX operates the largest rouble FX trading marketplace worldwide. The average daily trading volume reached $20.4 billion in June 2016, and the number of international clients stood at more than 8,300 from 93 countries. The share of international traders in MOEX FX spot is at around 40%.

Last time Finance Magnates reported on the Russian bourse was on July 6^th, when the Emerging Markets Traders Association (EMTA) and CME Group jointly recommended MOEX’s USD/RUB benchmark as the major reference rate for OTC rouble derivatives, effective as of 18 July.