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Screenshot of a breaking news alert e-mail from Q2 2017
Russia’s Moscow Exchange is making moves, today it released new specifications which will come into force on September 8th for cash-settled EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CHF, USD/UAH, USD/RUB, and EUR/RUB futures.
The specifications incorporate recommendations by Moscow Exchange’s Derivatives Market and FX Market Committees to use the following new fixings to determine EUR/USD and EUR/RUB futures settlement prices from September:
Use of the new fixings will allow to unify a settlement procedure for futures on RUB currency pairs (USD/RUB, EUR/RUB) as well as for non-RUB currency pairs (EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CHF). Starting from September, settlement prices for futures on RUB pairs will be determined simultaneously, at 12:30 pm MSK, using Moscow Exchange’s currency fixings. The fixings are calculated by a single methodology that uses order and trade prices in the relevant instruments on the exchange’s FX Market. Settlement prices for futures on non-RUB currency pairs will also be determined simultaneously, at 11:00 am London time, using the relevant exchange rates from Thomson Reuters’ FXFIX page.
Please be reminded that EUR/USD and EUR/RUB futures will be settled, using the new fixings, on September 15th.
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