RTS to launch futures on currency pairs and metals in Nov
MOSCOW. Oct 21 (Interfax) - The Russian Trading System (RTS) Index will launch futures on currency pairs (U.S. dollar and pound, U.S. dollar and Australian dollar) in November, as well as futures on copper, palladium and sugar, the chairman of the RTS executive board, Roman Goryunov, told journalists on Thursday.
"We will approve the specification for futures on currency pairs by the end of October and send tem for registration with the Federal Financial Markets Service (FFMS). We hope to launch it at the end of November," Goryunov said, adding that the first stage foresees the launch of futures of the U.S. dollar and pound and for the U.S. dollar and Australian dollar. At the start of 2011, the RTS will launch futures on the U.S. dollar and yen, as well as the U.S. dollar and Swiss Franc.
In addition, futures trading on copper and palladium will commence in November.
Furthermore, the RTS Index will launch futures on sugar in the first half of November, which will be calculated based on world futures on sugar in similar way that futures on oil blend Brent are tabulated. Deliverable futures on sugar already are in operation on the RTS.