Moscow Stock Exchange preps access to foreign futures
The Moscow Stock Exchange is looking at launching foreign equity futures for Russian investors.
The new investment product has been discussed for some time, but its launch requires approval from the local regulator.
According to Russia’s news source RBK daily, the derivatives market committee of the Moscow Stock Exchange is meeting today to discuss the launch of this new investment option.
In September, Russia’s Federal Service for Financial Markets (FSFR) issued a legislation allowing the stock exchange to create futures for foreign stocks, without the stipulation that they be traded within Russia.
Evgeny Serdyukov, managing director of the MICEX-RTS derivatives market, told RBK daily the new product would be attractive for experienced derivative traders.
Vladislav Kochetkov, president of Russian brokerage company Finam, says the key advantage of gaining direct access to the international trading platforms is cost reduction.
Currently, futures operations involving foreign stocks may cost 30%-50% more than those conducted with stocks on the local market.