OREANDA-NEWS. July 14, 2010. Futures contracts on gasoil (DS-07.10) were settled within the cooperation between Saint Petersburg Exchange and RTS Group of companies.

As in the contract’s specifications the settlement price equals the value of the Kortes Gasoil Index published by the information analysis center "KORTES" on the contract’s last trading day. For July gasoil futures the settlement price reached RUB16,878 per 1 ton. In total 214 contracts were settled for RUB3.61 million.

Trading in the cash-settled futures on gasoil was launched on April 16, 2010 as a joint initiative of Saint Petersburg Exchange and RTS Group. The new instrument is the first cash-settled ruble denominated oil product contract targeting the local market.

During 57 days of the lifetime of July contracts 197 trades were executed representing 11,054 contracts. The maximum trading volume was seen on July 1, 2010 when market participants traded 1,018 contracts for a record value of RUB17 million.

From June to July, 2010 the Kortes Gasoil Index grew by 5.70% while for the same period the price of the futures contract DS-07.10 went up by 5.79%. It clearly demonstrates the close correlation between the local oil products market and the futures market.

The most active market players were the financial sector companies OLMA Investment Firm, Solid and JSC "Piter Trust Investment Company".

Market participants turnover rating (16.04.2010 – 09.07.2010)

No

Company name

1.

OLMA Investment Firm

2.

JSC "Piter Trust Investment Company"

3.

Solid

4.

ALOR INVEST Ltd

5.

OTKRITIE Brokerage house JSC

6.

JSC "Investment Company "ITInvest"

7.

KIT Finance Ltd.

8.

Investment Company FINAM CJSC

Trading is organized by the Saint Petersburg Exchange, whereas trades are cleared by RTS Clearing Center and settled in RTS Settlement Chamber. Trading takes place on the basis of a trading and clearing system of the FORTS market which helps realize the principle of united settlement with the futures and options of the derivatives market FORTS.