LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Moscow Exchange (MOEX) has just announced that it will launch a Light Sweet Crude Oil futures contract and futures-style options on the futures to facilitate investment in global commodity instruments by Russian participants and their clients. This will happen on 25 April 2018.
Igor Marich, Managing Director of the Money and Derivatives Markets at Moscow Exchange, said:
In the last two years, commodity derivatives have dominated on MOEX Derivatives Market. The launch of the Light Sweet Crude Oil futures gives new opportunities for hedgers and arbitrageurs and helps deliver out strategy to improve access to global benchmarks for Russian investors.
The Light Sweet Crude Oil futures contract is a cash-settled contract quoted in US dollars per barrel. The contract lot is ten barrels. The contract ticker is CL-MM.YY. The Exchange will quote six futures series and two option series. Further information on the contracts is available on Moscow Exchange’s website.
Light Sweet Crude Oil is one of the most widely known and actively traded grade of crude oil. It is produced in Texas (USA). Oil prices affect prices of many other assets such as shares, bonds, currencies and other commodities as crude oil is still the primary energy source globally.