OREANDA-NEWS. September 15, 2011. On September 14, 2011 within the framework of the scheduled meetings OJSC RTS Derivatives Market Committee, CJSC MICEX Derivatives Market Committee and MICEX Derivatives Market Section Board held a joint session with the market participants.

The meeting participants agreed on a proposed approach to the integration of the derivatives markets of MICEX and RTS. This approach implies that the single organizer of trading, CJSC MICEX, and the single clearing organization, CJSC RTS Clearing Center, will act on all derivatives markets of MICEX and RTS by late December 2011. 

The participants entrusted the following tasks to the managers of the two exchanges at the end of the meeting:

to  develop regulatory documents in which conditions for functioning of the markets within the framework of the agreed integration conception will be stipulated.

To develop and submit for approval of the Committees a plan for combining same instruments in order to improve them on one of the trading and clearing platforms as well as to prepare suggestions on how to unify tariffs in all derivatives market sections of the joint exchange.       

To elaborate a process to cover risks attached to all instruments of the joint derivatives market using the own funds of RTS and MICEX.

To explore the issue of integrating two sections of the MICES derivatives market provided that the current interfaces of the document management system for a participant and the exchange will be kept.

In addition, the meeting participants advised the Executive management to approve drafts of documents through absentee voting by the Derivatives Market Committees of MICEX and RTS.

In September and October 2011 MICEX and RTS are holding a number of users committees and informal meetings with the market participants dedicated to the process of integration of the two exchanges.