Eurex unveils Russian equity derivatives

The European exchange Eurex is preparing to launch index and single-stock derivatives based on Russian underlyings.

The derivatives will be launched on April 23. They will include a future on the Russian Depository extended index (RDX), calculated by the Vienna stock exchange from the prices of the 15 largest Russian shares traded via depository receipt on the London Stock Exchange (LSE). The future will be cash-settled at $25 per point, with a maximum maturity of nine months.

Eurex will also list single-stock futures on all 15 RDX constituents, as well as options on Gazprom, Lukoil, Norilsk Nickel and Surgutneftegaz. The options will have maturities of up to 12 months and will also be based on LSE depository receipts. Eurex and the Vienna exchange say the products are intended to appeal especially to US investors.