MOEX Introduces Trading in Russian Government Bond Index Futures

On 28 February 2022, the Moscow Exchange (MOEX) Derivatives Market will start trading a cash-settled futures contract on the Russian Government Bond Index (RGBI).

The new instrument provides Russian and foreign investors with additional opportunities to diversify and hedge their securities portfolios, including by opening a position on the entire government bond segment in one transaction, without the need to purchase individual securities.

The underlying asset of the futures, the RGBI Index, is the benchmark of the Russian government debt market, as calculated on a quarterly basis since 2002. It includes the most liquid federal loan bonds (OFZ) with a duration of one year or more.

The contract will be executed quarterly in the intraday clearing period on the first business day of March, June, September and December at the last closing price of the RGBI Index multiplied by one hundred. Contract series with settlement in June 2022 will be admitted to trading.