Futures on single stocks of Russian companies

Futures based on single stocks issued by Russian companies have been successfully traded at the FORTS market for many years. The list of shares for futures' contracts has been constantly developing and growing throughout these years. The issuers of the stocks of the futures" contracts are the leading companies in the most developed segments of the Russian market: oil production, energy, communication and metallurgy.

Broadening the potentialities of equity portfolio managers by means of single stock futures:

  • Reducing the risk of the equity portfolio
  • The possibility of short sales
  • Using "the leverage effect" which is about 1,5:1,7 on average
  • Reducing transaction costs when working with shares:
    • Lower commission charges (e.g., the lack of depositary charges)
    • Free "leverage" (the participants are charged only with the opening and closing of a position, whereas position trading is free)
  • Creating short-term "synthetic" bonds
  • The possibility of strategy construction for futures and options on futures.

Strategies

A new edition of the specification for United Energy System ordinary shares and MMC Norilsk Nickel ordinary shares contracts has been ratified

General characteristics for single stock futures

Settlement Physical delivery
Contract Months March, June, September, December
Minimum Price Movement (Tick Size and Value) 1 RUR per contract
Last Trading Day The third Thursday of the Contract's settlement month of the settlement year
Settlement Day The first trading day on which the Shares are traded on the Main Market Sector of the MICEX SE after the Contract"s last trading day
Trading Hours 10:00-18:45 MSK – main trading session
19:00-23:50 MSK – evening additional trading session
2 clearing sessions:
14:00-14:05 – intraday clearing session
18:45-19:00 – evening clearing session

Characteristics for single stock futures

Underlying asset Volume
of contract
Code
of contract
Code
of contract
in trading system
Code
of contract
in Reuters
Code
of contract
in Bloomberg
Sberbank ordinary shares 100 SBRF SR SRRTSc1 SBSA Index
Sberbank preferred shares 100 SBPR SP SPRTSc1 SBER=A Index
Gazprom ordinary shares 100 GAZR GZ GZRTSc1 PZAA Index
LUKOIL ordinary shares 10 LKOH LK LKRTSc1 LKOA Index
 NK Rosneft ordinary shares 100 ROSN RN RNRTSc1 ROSA Indexм
Тatneft ordinary shares 100 TATN TT TTRTSc1 TNTA Index
MTS ordinary shares 100 MTSI MT MTRTSc1 MTSA Index
NOVATEK ordinary shares 100 NOTK NK NKRTSc1 TECA Index
Bank VTB ordinary shares 100 000 VTBR VB VBRTSc1 VTBA Index
Surgutneftegas preferred shares 1000 SNGP SG SGRTSc1 SNGP=A RU Equity
RusHydro ordinary shares 10 000 HYDR HY HYRTSc1 HYDA Index
FSK EES ordinary shares 100 000 FEES FS FSRTSc1 FEES=A RU Equity
Uralkali ordinary shares 100 URKA UK UKRTSc1 URKA=A RU Equity
Severstal ordinary shares 100 CHMF CH CHRTSc1 SVLA Index
АК Transneft preferred shares 1 TRNF TN TNRTSc1 TRPA Index
Surgutneftegas ordinary shares 1000 SNGR SN SNRTSc1 SGSA Index
GMK Norilsky Nikel ordinary shares 10 GMKR GM GMRTSc1 MMCA Index
Rostelecom ordinary shares 100 RTKM RT RTRTSc1 RSTA Index
Moscow Exchange ordinary shares 100 MOEX ME 0#MERTS MOEX=A RU Equity
Magnit ordinary shares 1 MGNT MN 0#MNRTS MGNT=A RU Equity
NLMK ordinary shares 100 NLMK NM   NLMK=M6 RU