Published on: 2026-06-02
Source: Moscow Exchange –
An important disclaimer is at the bottom of this article.
On June 9, 2026, trading will start on the Moscow Exchange’s derivatives market with mini-futures on the US dollar to Russian ruble exchange rate and the euro to Russian ruble exchange rate. The new instruments will complement the lineup of currency futures on the Moscow Exchange and become a more accessible alternative to the existing quarterly contracts on the dollar and euro exchange rates to the Russian currency.
The main difference of mini-futures lies in the lot size being 10 times smaller: 100 dollars and 100 euros respectively. This reduces the size of the margin requirement and allows investors to more flexibly adjust the transaction volume both for hedging and for managing currency positions. The launch of mini-contracts will also open up additional arbitrage opportunities for market participants.
Maria Patrikeeva, managing director of the derivatives market of the Moscow Exchange:
“We see a steady interest from investors in derivative instruments that allow working with currency risk – they are traditionally among the most demanded contracts of the Moscow Exchange’s derivatives market. Over the five months of 2026, the average daily trading volume in currency futures increased by 23% to 224 billion rubles compared to the same period last year, and the total open position since the beginning of the year grew by 24% to 1.73 trillion rubles. The launch of mini-futures on the US dollar and the euro is a logical development of the Moscow Exchange’s currency derivatives product line.”A reduced lot size will make the currency instruments segment accessible to the widest range of investors.
Parameters of the mini futures contract on the US dollar exchange rate to the Russian ruble:
- contract code – USDM (short code – UM);
- base asset – the US dollar exchange rate against the Russian ruble;
- lot of contract – 100 USD;
- Quote – in Russian rubles per 1 US dollar;
- minimum price step – 0.01 ruble;
- The minimum price step is 1 ruble;
- Execution price – the exchange rate of the Bank of Russia set on the last day of contract conclusion.
Parameters of the mini futures contract on the euro exchange rate to the Russian ruble:
- contract code – EURM (short code – ER);
- base asset – euro to Russian ruble exchange rate;
- lot of the contract – 100 EUR;
- quote – in Russian rubles per 1 euro;
- minimum price step – 0.01 ruble;
- The minimum price increment is 1 ruble;
- Execution price – the Bank of Russia rate established on the last day of the contract conclusion.
Contract execution – quarterly. The months of contract execution are March, June, September, and December. The last day for concluding a contract is the third Thursday of the execution month.
From June 9, contracts with expiration dates in September and December 2026 will become available to investors: USDM-9.26 (UMU6), USDM-12.26 (UMZ6), EURM-9.26 (ERU6) and EURM-12.26 (ERZ6).
Detailed information and specifications of new instruments are posted onMoscow Exchange website.
Urgent Market of the Moscow Exchange – a leading platform for trading derivative financial instruments in Russia and Eastern Europe, combining developed infrastructure, reliability and guarantees, as well as the most modern futures and options trading technologies. Today, the derivatives market of the Moscow Exchange trades 41 options on stocks, three options on currencies, an option on gold, an option on an index, more than 200 futures and options contracts on underlying assets, which include stock indices, stocks, currency pairs, precious and industrial metals, oil, gas, and other commodities, interest rates.
Please note; This information is raw content, obtained directly from the information source. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.