Next release of SPECTRA

The next release of Derivatives Market trading and clearing system SPECTRA, which includes a negative price trades feature, is scheduled for 6 July 2020.

During the first stage, the negative price support functionality is added for two instruments: natural gas futures (contract code: NG) and Light Sweet Crude Oil futures (contract code: CL). The list of instruments available to trade at negative prices will be expanded as needed and once market participants are prepared.

Since 26 May 2020 the Exchange has been testing trades at negative prices in the Derivatives Market T1, in which the first stage of negative price support was added.

Earlier, the Derivatives Market Committee supported proposals by Moscow Exchange to implement a functionality allowing negative prices. This was the result of quotes for Light Sweet Crude Oil (WTI) contracts at NYMEX (CME Group) declining into negative territory for the first time in April this year.

The full list of changes for SPECTRA 6.4.20 is available here.