About Derivatives Market

Derivatives Market: options and futures trading

Moscow Exchange's Derivatives Market is a leading venue for derivatives trading in Russia and Eastern Europe. The Derivatives Market combines advanced infrastructure, reliability, guarantees from Moscow Exchange, and state-of-the-art trading technologies with more than 10 years of the stable and successful market development.

Moscow Exchange acts as the Derivatives Market trading organiser. Clearing is through the National Clearing Centre.

An essential part of any derivatives transaction is contract settlement under fixed conditions on a particular day. In developing the Derivatives Market, Moscow Exchange is particular about to keeping its guarantee systems up to date. Along with improving its own guarantee system, the exchange continually increases the requirements of its clearing members. Derivatives Market members are dependable large cap investment companies and banks.

Another of Moscow Exchange's objectives is developing and implementing a wide range of financial instruments to allow hedging against stock, FX, debt, and commodity market risk.

Derivatives on the following underlying assets are currently traded: the RTS Index, MICEX Index, Russian Volatility Index, sector indices, stocks, OFZs, FX, the 3M MosPrime rate, and commodities.

Derivatives transactions are traditionally considered to be more profitable than those on the spot market, not only because of leverage, but also because of the absence of transaction costs related to spot market trading (margin costs and depositary & settlement fees). Furthermore, trading fees for options & futures transactions are significantly lower than those on the spot market.

One of the Derivatives Market's distinctive features is that it allows all participants, including clearing members, professional brokers, and clients, to trade using either their own Internet trading system terminals or workstations provided by Moscow Exchange.

Moscow Exchange's Derivatives Market Committee comprises representatives of professional stock market organisations. The committee's responsibilities include forming market development and appropriate tariff policies, reviewing guidelines and other regulatory documents, and monitoring professional market participants'  funds.

The Derivatives Market Committee includes a working group on risks, comprising risk management experts from leading Russian stock market operators. This group is responsible for developing the Derivatives Market's risk management system.

The Derivatives Market's trading hours are 10:00 am – 6:45 pm and 7:00 pm – 11:50 pm MSK.

Trading schedule

10:00 am – 2:00 pm Main trading session
 2:00 pm – 2:05 pm Intraday clearing session
 2:05 pm – 6:45 pm Main trading session
6:45 pm – 7:00 pm Evening clearing session
7:00* pm – 11:50 pm Evening trading session

* in the options expiration dates the evening trading session starts at 7.05 pm

Evening trading session

Contacts
Phone: +7 (495) 363-3232 , ext. 26059, 26060, 26061, 26062