OREANDA-NEWS. On 02 April 2008 was announced, that the Federal Financial Markets Service registered new versions of specifications of RTS Indices futures contracts and options contracts on these futures.

In accordance with the new versions the average value of RTS Index and Sectoral Indices used in contracts settlement shall be calculated for the period from 16:45 pm to 17:45 pm (Moscow time) on the last day of execution of contracts.

Previously the average value of Indices used in contracts settlement was calculated for the last trading hour.

We would like to remind that the average value of RTS Index (Sectoral Indices) is used in calculation of settlement price for futures contracts on RTS Index (Sectoral Indices) as well as in determination of the state ("in money" or "no") of quarterly options on these futures. Quarterly options on RTS Index (Sectoral Index) "in money" are settled automatically (without consent of the options holder).

The changes come into effect on April 2nd, 2008.

FORTS, the derivatives market of RTS, is a leading trading venue 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 65 contracts (46 futures and 19 options) on shares of Russian companies, bonds, short term 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.