OREANDA-NEWS. On 20 March 2008 was announced, that On futures on the ruble overnight credit rate MosPrime were introduced on FORTS. The instrument will gradually substitute the already traded futures contract on the ruble overnight credit (deposit) rate on Moscow interbank market MosIBOR.
The decision to change the underlying asset was taken in connection with the fact that MosPrime rate is widely acknowledged by the world financial community as the most recognized reference interest rate of the Russian Federation.

The currently introduced futures contract on the ruble overnight credit rate MosPrime will be settled in March 2009.

At present the volume of open interest for contracts on average rate of the overnight credit makes up 29 bln. rubles.

Derivatives market of RTS – FORTS is a leading trading ground for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest range of instruments in Russia. These are 64 contracts (45 futures and 19 options) on shares of Russian companies, bonds, short interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.

Trading volume on FORTS in 2007 grew threefold and reached 297.41 bln dollars or 144.9 million contracts . Compared with 2006 the number of trades increased more than twofold and reached 11.7mln. Total open interest at the end of the year equalled 14.7 bln  rubles in cash or 3.2 million contracts. FORTS also saw a record day’s trading in 2007 when the value of all contracts traded reached 5.2 bln dollars on December 13th, 2007.