Contribution into RTS Contingency Fund Will Be Increased
OREANDA-NEWS. October 04, 2010. On November 1, 2010 the initial stage of the transfer to a new methodology for calculation of contribution amounts into the RTS Contingency Fund and implementation of their differentiation depending on participants open interest volume will start. Thereby RTS market participants contributions will depend on average daily collateral for open interest on the RTS Standard and FORTS markets over the last 6 months.
The changeover to the new methodology is aimed at the development of risk-management system.
In addition, the Reserve fund, formed at the cost of Joint-stock company "RTS Clearing Center", will be increased to RUB650 million.
Taken together, RTS funds will be increased by more than RUB1.0 billion and in 2011 will reach RUB3 billion as a result of a transfer to the new methodology for determining of trading participants contributions.
The increase of Contingency and Reserve funds needed due to the recent doubling of open interest volume and continuous growth of trading participants activity.
According to the Committee resolution the transfer to the new mechanism will be divided into several stages.
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