OREANDA-NEWS. On 03 September 2008 was announced, that in accordance with the decision of the extraordinary general meeting of shareholders of the MICEX, held on July 22, the MICEX has created a reserve fund to cover risks associated with transactions in the derivatives market of the MICEX Group. The size of the reserve fund is 2 billion rubles.

The new fund was formed by combining the financial resources of the former Reserve fund for the coverage of risks associated with transactions in the MICEX Derivatives Market Section and the former Guaranty fund for clearing in the derivatives market (stock market derivatives). The combined financial resources of both funds amounted to 500 mln rubles. The remaining part of the new reserve fund comes from the Fund for the development of the exchange business.

The increased size of the reserve fund will help to improve the reliability of transactions in the MICEX derivatives market, which is especially important given the increased volatility in the world financial markets. Further improvement of the risk control system will help to widen the range of traded instruments and significantly cut traders’ expenses for transactions in the derivatives market. This will promote the growth of trade volumes and the number of participants in trading and their clients.