Moscow Exchange (MOEX) has just announced that, starting today, it will launch trading in futures contracts on non-ferrous metals such as aluminum, nickel, zinc and copper. With the new contracts, the Exchange aims to make it easier for Russian market participants and their clients to invest in global commodity instruments.
Igor Marich, Managing Director of the Money and Derivatives Markets at Moscow Exchange, said:
Commodity derivatives have become more popular among MOEX Derivatives Market participants, and today account for 20% of total turnover. The new contracts have been made possible through an agreement with London Metal Exchange, the world’s leading marketplace for metals trading. Our clients will gain exposure to global derivatives market instruments, allowing them to leverage diverse trading strategies and hedging opportunities with low risks and low costs thanks to Russia’s financial market infrastructure.
The futures contracts are cash-settled. The contract lot is one ton for aluminum and zinc, and 0.1 ton for nickel and copper. The contract tickers are Al, Nl, Zn and Co.
Initially, the Exchange will quote three futures series with settlement in December 2018, January and February 2019.
Moscow Exchange’s derivatives offerings include futures contracts on indices (MICEX, RTS, RVI and US500), currency pairs (USD/RUB, EUR/RUB, CNY/RUB, EUR/USD, AUD/USD, GBP/USD, USD/JPY, USD/CHF, USD/UAH, USD/CAD and USD/TRY), commodities (Brent, light sweet crude and precious metals), Russian single stocks, Russian Federation bonds (OFZ) and interest rates, as well as monthly and quarterly options on most futures, and weekly options on futures contracts on the RTS Index and the USD/RUB currency pair.