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MOSCOW, May 11. The Moscow Exchange Group plans to launch a settlement futures contract for sugar, which will be calculated at domestic prices, said in an interview director of JSC National Commodity Exchange (NTB, part of the Moscow Exchange Group) Nikita Zakharov.
“Now we, together with colleagues from the derivatives market of the Moscow Exchange, are working on a futures for sugar. We see the domestic price as the underlying asset: the Russian Federation hardly exports sugar, so the price for it depends primarily on internal factors. Now we consider OTC transactions as the basis for calculating the index. Next, we will look at the possibility of using the exchange market for the index: over the past year, the volume of sugar trading on the NTB has doubled,» Zakharov said.
Now among the derivatives market instruments is a settlement futures for raw sugar, traded on the international stock exchange Intercontinental Exchange. The new futures, based on the domestic prices of the Russian Federation, will also be settled.
In addition, the possibility of launching a futures on the export price of sunflower oil is being considered, he added: now the index for this product is calculated on the basis of over-the-counter transactions and is used to determine the export duty.
Among other projects is the launch of commodity auctions for milk and dairy products: according to Zakharov, the concept prepared by the exchange is now being studied by the National Union of Milk Producers and a number of large producers.
«The next point of interest, but without specific dates, is poultry and pork. We would also like to deal with fertilizers, but now state price regulation remains in the industry, and it is contraindicated for exchange trading,» the director of the NTB said.