Russian Ruble/U.S. Dollar Futures

Growth in participants and June ADV up 200% YoY

Key Macro Facts

Russia is one of the world’s leading producers and exporters of oil, natural gas, steel, and aluminium, and thus is heavily dependentupon the movement of world commodity prices, which make it vulnerable to boom and bust cycles that follow the volatile swings in global prices.

Real GDP growth in Russia surpassed expectations in 2018, reaching 2.3%. Forecasted economic growth of 1.2% in 2019 and 1.8% in 2020 reflects a more modest outlook. Continued geopolitical developments, such as the ongoing U.S. economic sanctions on Russia, coupled with any changes in key commodity prices may impact the ruble.

1.The Russian Economy: Modest Growth Ahead - Russia Economic Report 39th Issue”. World Bank Group May 2018. (www.worldbank.org/en/country/russia/publication/rer)   

Key Stats

  • June had record volume of 39,149 contracts ($1.5B notional)
  • Record ADV in June of 9,063. Up 200% vs June 2018 ADV

Key Features

  • Tight bid-ask spreads across all trading hours by dedicated market makers providing liquidity across all time zones.
  • CME’s RUB/USD futures contract offers a useful tool for risk managers to hedge their currency risks.
  • CME offers a venue to access Russian assets along with the benefit of facing a regulated, central counterparty with reduced credit risk.
  • Q2 2019 average OI for RUB of 66,452, a 165% increase YoY reflecting significant increase in end user participation in our growing RUB franchise

Key capital efficiencies and margin offsets

  • 30% savings with Norwegian Krone (NOK/USD)
  • 25% savings with Brent Crude Oil (BZ) and WTI Crude Oil (CL)
  • 20% savings with Australian Dollar (AUD/USD), Brazilian Real (BRL/USD), Mexican Peso (MXN/USD), and South African Rand (ZAR/USD)

RUB/USD ADV and Open Interest

Be Part of the Trend and Trade Cash-Settled Russian Ruble Futures at CME Group

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Globex: 6R                  Bloomberg: RUA           Reuters: 0#RUSS:

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Contract Specifications

Contract Unit 2,500,000 Russian rubles
Price Quotation U.S. dollars and cents per Russian Ruble
Trading Hours CME Globex: Sundays: 5:00 p.m. - 4:00 p.m. Central Time (CT) next day. Monday - Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
CME ClearPort: Sundays: 5:00 p.m. - 4:00 p.m. Central Time (CT) next day. Monday - Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
Minimum Price Fluctuation 0.000005 per Ruble=$12.50
Product Code CME Globex: 6R
CME ClearPort: RU
Clearing: RU
Listed Contracts Twelve consecutive (serial) contract months for the 1st year of maturity (includes 4 March, June, September and December quarterly contract months) plus 16 additional March quarterly months covering a total maturity range of 5 years (total of 20 March quarterly contract months plus 8 nearby non-March quarterly cycle serial contract months for a total of 28 contract months listed).
Settlement Method Financially Settled
Termination Of Trading Trading terminates on 15th day of the contract month , if that is not a business day, then it is the business day after that.
Settlement Procedures RUB/USD Futures Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 260
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Contract Unit One futures contract for 2,500,000 Russian rubles
Minimum Price Fluctuation 0.000005 per Russian ruble = $12.50
Trading Hours CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m.
CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m.
Open Outcry: 7:20 a.m. – 2:00 p.m. Central Time (CT)
Product Code CME Globex: 6R
CME ClearPort: RU
Open Outcry: UO
Clearing: RU
Listed Contracts Monthly contracts listed for 12 consecutive months
Settlement Procedures Option on cash-settled futures contract
Termination Of Trading Trading terminates at 11:00 a.m. Moscow time on the 15th day of the month. If this is not a Moscow business day, trading terminates on the next business day of the Moscow interbank foreign exchange market.
Position Limits CME Position Limits
Exchange Rulebook CME 260A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Exercise Style European
Settlement Method Deliverable
Underlying Russian Ruble Futures

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