SPB Exchange is preparing to launch a new class of perpetual derivatives it calls "Neo-Assets," targeting the retail trading activity that has historically flowed to offshore CFD and perpetual swap platforms.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).
The rollout is scheduled for the second half of April 2026. T-Investments, the brokerage arm of T-Bank, will distribute the instruments at launch.
How the Product Works
The contracts are perpetual and cash-settled, with no fixed expiry. They support margin trading, accept both cash and securities as collateral, and charge no intraday fees — costs only apply to overnight positions.
Settlement is in rubles within Russia's financial system, cutting out foreign intermediaries entirely. The initial lineup covers U.S. equities — Tesla and Amazon among them — and crypto-linked indices based on Bitcoin and Ethereum. Crypto contracts are restricted to qualified investors.
The distribution angle T-Investments already commands a large share of Russia's futures client base, which gives Neo-Assets immediate reach into an active retail audience.
- Russia Postpones Telegram and YouTube Ad Ban, Easing Pressure on Online Marketing
- Russia’s Brokerage Market: 40 Million Accounts, But Only a Fraction Hold Real Assets
- Russian Central Bank Proposes Allowing Banks and Brokers to Obtain Crypto Licenses
"Neo-Assets give access to the price dynamics of foreign assets and cryptocurrencies, with the advantages of margin trading and zero intraday commission," said Alexander Gusev, Director of Brokerage Product Development at T-Investments.
For SPB Exchange, the launch is a product redesign play — building derivatives around how retail traders actually behave on offshore platforms, rather than how exchange products have traditionally been structured.
What Doesn't Transfer
Synthetic exposure to foreign assets adds structural complexity, and the product's appeal will ultimately depend on whether domestic liquidity and execution quality can match what offshore platforms deliver. Regulatory constraints on product depth remain a factor that the exchange hasn't addressed publicly.
For brokers and infrastructure providers, the more interesting question is whether a domestically regulated instrument can retain traders who went offshore precisely because local alternatives fell short — not just on price, but on product range and execution.
