Moscow Exchange Adds USD/CAD & USD/TRY Futures, FX Volumes Rebound 37%

The foreign exchange futures offering on the Moscow Exchange is being expanded with the introduction of USD/CAD and USD/TRY contracts

(Photo: Bloomberg)
(Photo: Bloomberg)

According to an announcement made by the Moscow Exchange, it has started offering trading in futures contracts on US Dollar-Canadian Dollar and US Dollar-Turkish Lira currency pairs. The official market maker will be Metallinvestbank, providing quotes for the new futures.

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On the first trading day, brokers were offered the futures with settlement in June 2015. The minimum base initial margin required to trade the contracts is 4% for USD/CAD futures and 7% for USD/TRL futures.

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The new instruments are aiming to diversify the Moscow Exchange’s offerings for its FX futures market participants, catering to the needs of both professional brokers and private investors.

The Moscow Exchange also registered a solid rebound in trading volumes in the second month of 2015 with the total foreign exchange trading value amounting to RUB 19.6 trillion ($315 billion), higher by 37% when compared to last month which saw a seasonal decline in trading activity on the exchange.

When compared to a year ago, the figures are higher by 10.8%, as spot trades accounted for RUB 7.8 trillion ($125 billion) and swap trades totaled RUB 11.8 trillion ($189 billion). The average daily trading volume totaled RUB 1 trillion ($16 billion).

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