GBP/USD and USD/JPY FX options begin trading on MOEX

As of 2 October 2017, options on GBP/USD and USD/JPY FX futures contracts have begun trading on the Moscow Exchange Derivatives Market. 

Only one quarterly option series will be traded at any single time. Options will expire on the third Wednesday in March, June, September and December, with the first expiration due to take place 21 December 2017.  

The strike step is 0.005 for GBP/USD FX options and 0.5 for USD/JPY FX options.

Strikes can range ± 3.7% of the ATM strike for GBP/USD FX options and ± 4.5% for USD/JPY FX options.

Reneissance Broker will act as market maker for the new options.

Kirill Pestov, Head of Moscow Exchange's Derivatives Market:

"Our clients have recently taken an increased interest in futures on British pound/US dollar and US dollar/ Japanese yen currency pairs, so we decided to introduce options on these contracts. The new instrument will complement MOEX’s derivatives offering and enable the implementation of diverse trading strategies."

The average daily trading volume of USD/JPY FX futures contracts increased by 40% to RUB 885.1 mn, and GBP/USD FX futures contracts by 1.7% to RUB 589.5 mn in the nine months ended 30 September 2017. 

Currently, Moscow Exchange`s derivatives offerings include futures contracts on indices (the MICEX Index, the RTS Index and the RVI Index), currency pairs (prominently, USD/RUB), commodities (Brent oil and precious metals), single stocks, Russian Federation bonds (OFZ) and interest rates, as well as monthly and quarterly options on most futures, and weekly options on futures contracts on the RTS Index and USD/RUB currency pair.