Trading in long-term USD/RUB FX swaps commenced successfully in MICEX-RTS

39 trades were executed after trading in long-term USD/RUB FX swaps was launched in MICEX-RTS five days ago. Total volume in the swaps exceeded USD1.4 bln. Some 30 credit organizations traded the new instruments.

According to Igor Marich, MICEX-RTS Managing Director, trading in the long-term FX swaps on the Exchange will allow market participants and their clients actively develop this market segment in Russia.  Long-term FX swaps were traded in London so far.  Trading participants in Russia had to execute synthetic swaps by combining FX trades on the spot market and transactions in derivatives, forwards or futures contracts executed primarily on the OTC market or foreign trading venues (for example, CME).  

"Ultimately, the launch of the swaps in this category on the MICEX-RTS FX market will facilitate repatriation of turnover in these instruments to Russia,  allow participants using full-fledged FX swaps to manage risks, implement arbitrage and other trading strategies", added Igor Marich.

An impetus will be given also to the FX and interest rate futures contracts trading, due to broadening range of opportunities for arbitrage between these contracts and the swaps.

On April 23, 2012 MICEX-RTS launched trading in the long-term USD/RUB FX swap with settlement of the first leg on T+1 and the second leg - 1W, 2W, 1М, 2М, 3М and 6М.

For further information, please contact the Public Relations Department at (495) 363-3232.