The Moscow Exchange will begin trading futures settlement of depositary receipts of shares of Chinese companies Baidu and Alibaba on May 22, according to a message from the trading platform.
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As noted by the press service of the Moscow Stock Exchange, the new contracts will provide private and institutional investors with the opportunity to participate in the price movements of the world’s largest companies.
“Settled futures involve no delivery, eliminating the need to purchase the underlying asset. Only cash settlements are made between the parties to the transaction on the date of execution of the contract,” the platform clarifies.
The parameters of the new instruments were also published on the exchange. Many American Depositary Receipts futures contracts for Alibaba shares will be a single receipt. The price step is $0.01, its cost is $0.01. The contract code is ALIBABA, the short code is BB.
Baidu will have similar parameters, the contract code is BAIDU and the short code is BD.
Author:
Natalia Gormaleva
Source: RB
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