Russia’s first futures market was established in 1992 in St Petersburg but attracted little interest. What trading that did exist was brought to an end by the 1998 financial crisis. After lying dormant for much of the past decade, the futures market is growing fast.
Russia’s booming economy has left the double whammy of 1998’s default and devaluation behind it and a second attempt to set a futures market was launched in 2001 based on the remnants of the St Petersburg market. The Russian Trading Systems (RTS) futures market, known as FORTS, now accounts for 98% of Russia’s futures and options contracts, but still bears some scars from the financial blow-out.
