Moscow Exchange Launches New Stock Futures
New instruments included futures on ordinary shares of PJSC Fix Price (FIXP), PJSC Russagro Group (RAGR), as well as larger-lot futures on shares of PJSC Astrа Group (ASRT) and PJSC Novabev Group (BELU) – so-called maxi-futures.
Consensus
- Trading in new futures contracts on Russian stocks began on August 18.
- The new contracts include delivery-based futures on 'Fix Price' and 'RusAgro'.
- Maxi-futures with 10 times larger lot sizes were introduced for 'Astra' and 'Novabev Groups'.
- Standard-lot futures on 'Astra' and 'Novabev' will continue trading until expiration without changes.
- All new contracts have a price step and minimum price increment of 1 ruble.
- The new contracts are intended to expand hedging and trading strategy options for participants.
Points of divergence
- The futures on 'Astra' and 'Novabeve Group' are referred to as 'maxi-futures' with 10x increased lot size and collateral requirements for contract value. — kommersant
- The exchange stated that the 10x larger lot size is intended to improve convenience in trading these instruments. — vedomosti
- The futures on 'Astra' have a contract execution date in December 2026 and March 2027. — kommersant
- The futures on 'Astra' are listed with December 2026 and March 2107 series. — vedomosti
- The futures on 'Novabev Group' have a contract execution date in December 2106 and March 2027. — kommersant
- The futures on 'Novabev' are listed with December 2106 and March 1027 series. — vedomosti
Coverage (2 sources)
- Moscow Exchange to start trading max-futures on 'Astra' and 'Novabe Group' stocks from August 18 — Коммерсантъ
- Moscow Exchange expanded futures lineup on Russian stocks — Ведомости
Key entities
- Astra
- Novabev Group
- Moscow Exchange
- RusAgro
- Fix Price
- Moscow Exchange (MOEX: MOEX)
- Rubio Index Moscow Exchange
- PJSC Fix Price (FIXP)
- PJSC Rusaagro Group (RAGR)
- PJSC Astra Group (ASRT)
- PJSC Novabev Group (BELU)