Futures Contracts on UC RUSAL RDR Started Trading on MICEX-RTS
OREANDA-NEWS. February 16, 2012. UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; MICEX-RTS: RUALR), the world’s largest aluminium producer, announces the launch of Russian Depositary Receipts (RDR) trading at the Standard equity market of MICEX-RTS stock exchange and futures contracts on RDRs at FORTS derivatives market.
The specification of the futures contract was registered by Russian Federal Service for Financial Markets on 24 January 2012. According to the specification the size of the contract is 100 receipts. The trade ticker is RUAL<execution month><execution year>. According to MICEX-RTS Futures and Derivatives Market Committee, the basic security deposit on the futures contract will amount to 20%.
The launch of the RDR trading on the Standard equity market followed by the launch of the respective futures is the final step in bringing RUSAL's RDRs to all major markets and sections of MICEX-RTS stock exchange.
“The Russian financial market has made significant progress in terms of the range and depth of its product offering and we are delighted to be one of the pioneers in this process. RUSAL is the first company to have launched an RDR program and I believe that the launch of the futures contract demonstrates the growing confidence and interest of the investment community in RDRs which continue to attract a wider group of Russian and international investors”, said RUSAL' s Director for Equity Markets and Corporate Development Oleg Mukhamedshin.
“The broad variety of investment tools can trigger synergy and increase liquidity and efficiency. The FORTS derivatives market and Standard equity market tools with T+N settlement will be of a great interest for arbitragists and active traders. We are also pleased by the issuer’s attention to the introduction of such products and its liquidity development”, said MICEX-RTS Senior Managing Director First Deputy Chairman of the Management Board Roman Goryunov.