MICEX-RTS Derivatives Market Committee holds a meeting

On May 29, 2012 a meeting of the MICEX-RTS Derivatives Market Committee took place. At the end of the meeting the Committee members decided to advise the Exchange's management to synchronize the trading calendar for the MICEX-RTS Group's markets with foreign trading venues and discussed parameters of underlying assets of index futures contracts and changing parameters of such contracts.

To synchronize the trading calendar, the Committee recommended opening all the Group's markets if one of more holidays in Russia falls on business days in the exchanges in the United Kingdom and the United States. At the same time, the Committee advised that markets should be closed during public holidays in Russia, i.e. on 1 January and 7 January, 1 May and 9 May, 12 June and 4 November.

In addition, the Committee members agreed on the suggestion to employ prices of the Main Market instead of the Classica and Standard sectors as a source of prices for calculation of the RTS Index. Furthermore, they recommended that the price tick value for index futures and options should be changed from 5 to 10 basic points. The change is planned to take place respectively after nearby June and September futures are settled.

“The Committee has decided to change the price tick value for the contracts on the RTS Index, RTS Standard Index and MICEX Index based on recommendations of the working group that was established in order to elaborate solutions for boosting liquidity on the market. According to experts' opinion, proposed changes will entail increase of quick liquidity for contracts on the indices”, said Evgeny Serdyukov, Managing Director of Derivatives Market at MICEX-RTS.

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