The Russian MICEX-RTS launched on June 6 trading futures contracts on major stock indexes of the BRICS (Brazil, Russia, India, China, South Africa).
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Thus, as in a press release the exchange, investors have the opportunity to buy and sell contracts for Brazilian IBOVESPA, the Indian Sensex, Hong Kong’s Hang Seng and South African FTSE / JSE Top40.
Subsequently, the MICEX-RTS and plans to introduce a single market index of the BRICS countries — according to , it could happen this fall. It is assumed that this index will increase the liquidity in the markets of the largest developing countries.
According to the Prime portal, the first trading in futures on the index included five BRICS Russian investment companies, which concluded 15 transactions. The sum of these transactions is not specified.
MICEX-RTS stock exchanges actively cooperates with other BRICS countries in the autumn of 2011, when it signed an agreement to establish an alliance of the five stock exchanges. In March 2012, the Alliance launched a cross-listing of financial derivatives on their indexes.
Futures for a particular index — is a contract for a specified period of performance. Thus, buying it, investors are making the assumption that after a while the index to rise to a certain number of points. If his assumption is justified, he makes a profit between the purchase price and the futures of its value after the completion of the period of performance.
The Russian Foreign Ministry welcomed the opening on June 6 at the site of the International Interbank Currency Exchange — Russian Commodity Exchange (MICEX-RTS) sales of futures contracts on the major stock indexes of the BRICS countries. This is the ministry said.
As noted in the Ministry of Foreign Affairs of the Russian Federation, it has become possible due to achieved 12 October 2011 agreements between the heads of the leading stock exchanges of the BRICS countries of the Alliance of exchanges.
"The launch of this project is the first such initiative in the world and opens up new possibilities in the field of economic cooperation among the BRICS. Creating Alliance exchanges will contribute to the growth of domestic capital markets and will significantly strengthen the position of the members of BRICS in the global economy", — the report says.