Moscow Exchange to launch trading in futures for Kazakh tenge and Armenian dram on May 11

MOSCOW. May 10 (Interfax) - The Moscow Exchange plans as of May 11 to launch trading in cash-settled futures for the currency pairs of the Kazakh tenge (KZT)/Russian ruble and Armenian dram (AMD)/Russian ruble, the exchange said in a statement.

The contract lots are to equal KZT 100,000 and AMD 100,000, with a minimum price increment of 0.001 Russian ruble, and a value increment of one Russian ruble.

The exercise price is to be the exchange rate value as set by the Central Bank of Russia (CBR) on the day of the exercise price, rounded up to the minimum price increment.

Market participants and their clients will have access to contracts with expiration dates in June, September, and December 2023, and March 2024, with quarterly updates.

Currency futures occupy a consistently leading position among derivatives instruments on the market regarding client activity, Maria Patrikeyeva, head of the MOEX derivatives market, was quoted as saying in the statement.

The Moscow Exchange in January 2023 began trading in cash-settled futures for the U.S. dollar/Chinese yuan currency pair, as well as options on them.

Trading in futures for the currency pairs of the United Arab Emirates (UAE) dirham/Russian ruble and Indian rupee/Russian ruble was launched in April and for the currency pairs of the Turkish lira/Russian ruble and Hong Kong dollar/Russian ruble in March.