OREANDA-NEWS. July 15, 2010. Starting from July 15, 2010 RTS Stock Exchange will provide an inter-month spread credit for opposite positions in futures and/or options on refined silver. When entering into such opposite positions (i.e. when selling a futures/option and simultaneously buying a different contract month), market participants will be required to only post Initial Margin on one of the contracts (whichever is the largest).

The spread credit will improve the financial result of silver contract trades thanks to the reduced funding costs and increase the opportunity for more active arbitrage between the front and back month silver contracts.

FORTS, the derivatives market of RTS, is the leading trading venue for futures and options in Russia. Trading on FORTS started in September 2001. According to the Futures Industry Association the derivatives market of RTS is among the TOP-10 global derivatives exchanges based on the results of 2009. At present FORTS has the widest range of instruments in Russia. These are 49 contracts (34 futures and 15 options) on RTS Index, RTS Standard Index, shares of Russian companies, bonds, short term interest rates, currency, oil, gasoil, gold, silver, and sugar.