Moscow Exchange and Eurex introduce cooperation on FX trading

Forex futures on EURRUB and USDRUB to trade on Eurex.

Moscow Exchange and Eurex, the derivatives arm of Deutsche Börse Group, announced that they have signed a cooperation agreement for the trading of Rouble-based FX derivatives. Specifically, Eurex Exchange will launch Euro- Russian Rouble and U.S. Dollar-Russian Rouble FX futures on its trading system.

The agreement will go into effect immediately, with the Rouble futures trading to begin during Q4 2013. Both partners will also jointly promote the launch of these two FX futures.

Eurex plans to launch FX futures and options for six currency pairs in October. According to the new agreement, Eurex”s product suite will be complemented with cash-settled futures for both the EURRUB and USDRUB currency pairs. Upon expiry, Eurex”s Rouble futures will be settled using settlement prices provided by Moscow Exchange. This procedure is intended to reinforce the integrity of the futures contracts and provide investors with confidence that the settlement price is both fair and accurate.

During Q2 2013, the average daily volume for both the EURRUB and USDRUB products on the Moscow Exchange amounted to over 2 million contracts, with a notional value of $2.1 billion. Last year, U.S. Dollar-Russian Rouble futures were the third most popular FX futures contract globally among traded currency futures, according to the Futures Industry Association.

Beyond Rouble trading, the Moscow Exchange has seen a rise in Chinese Yuan trading, with volumes up 40% this year over last.

For the complete Moscow Exchange press release click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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