Moscow Exchange (MOEX) has informed the public that it has launched US 500 Index Futures. The underlying asset for US 500 Index Futures is the Solactive US Large Cap Index, a benchmark mirroring the performance of the 500 largest US companies.
Renaissance Broker and Region Investments will quote buy and sell orders of 100 contracts each for the nearby contracts throughout the main trading session. The contract’s code is U500.
Offering trading in the futures on the US stock index is part of MOEX’s strategy of providing access to popular global financial instruments for institutional and private investors. They are now able to trade these instruments within the Russian jurisdiction using mechanisms their existing set up with MOEX, and take the full advantage of the benefits of on-exchange trading: pricing transparency, liquidity and reliable infrastructure.
In April this year, the Exchange started trading in the futures contract on Light Sweet Crude Oil, one of the most actively traded commodity globally. In May, ten most liquid stocks of large international companies were admitted to CCP-cleared repo. In the third quarter, MOEX plans to admit to trading share of 50 top international companies.