A new law sailed through the Duma, the Russian parliament, in the first of three readings this June, putting derivatives on a firm legal footing for the first time. Futures and options were previously governed by the same rules that regulate casinos.
Derivatives trading has been the fastest growing sector in Russia’s financial arena in the past two years. Total volume has grown from $13bn in 2005 to $1bn a day by the middle of this year, according to industry experts.
