FORTS (Futures and Options on RTS) Derivatives Market is the leading derivative market of Russia and Eastern Europe. FORTS combines the developed infrastructure, reliability and the "Russian Trading System" Stock Exchange guarantees with high trading technologies conformed to more than ten years of successful market development.
Trading on FORTS is organized by the Open Join Stock Company "Russian Trading System" Stock Exchange, clearing is performed by the Closed Joint Stock Company "RTS Clearing Center" specializing in multilateral centralized clearing, dominantly derivative market clearing.
The essential part of any transaction in derivatives is the settlement of the contract on a certain date in the future under fixed conditions. Together with developing FORTS "Russian Trading System" Stock Exchange pays special attention to keeping its guarantee systems up-to-date. While improving its own system of guarantees, the exchange constantly raises the demands to its clearing members. The FORTS participants are secure high-capitalized investment companies and banks.
Another significant task facing RTS is the development and implementation of a wide range of financial instruments that allows market participants to hedge price-related risks at the stock market, FX market, debt and commodity markets. FORTS is a trading platform for futures and options based on the following underlying assets: shares and bonds issued by the leading Russian companies, RTS Index, RTS Standard Index, FX rates, average overnight MosPrime rate, three-month MosPrime rate, and commodities including Urals and Brent oil, gasoil, gold, silver, and sugar.
Traditionally, derivative transactions are considered to be more profitable than those on the spot market not only because of the financial leverage but also because of the lack of transaction costs related to trading on the spot market (margining expenses, depositary and settlement fees). Furthermore, the commission fees for transactions with derivatives are significantly lower than those on the spot market.
One of the distinctive features of FORTS is the ability of every participant to trade using either their own terminals via Internet trading systems or workstations provided by RTS. Market participants can efficiently transfer funds between the "Gazprom" market, T+0 Market and FORTS using the "single cash position" technology.
FORTS executive body consists of the Board of Directors of the Open Joint Stock Company "Russian Trading System" Stock Exchange" and the Derivatives Market Committee of the Open Joint Stock Company "Russian Trading System" Stock Exchange. The Committee consists of the representatives of companies – professional market participants working at RTS. The Board of Directors and the Committee are appointed to create the long-term development policy of the derivative market, determine the amount of commission, ratify the rules and other documents, as well as monitor funds of the professional market participants. Questions related to the system of risk management are settled by the RTS Risk Management Committee which consists of risk management experts from the leading Russian brokerages and investment banks.
Trading hours of the FORTS Market are from 10:00 am to 6:45 pm and from 7.00 pm to 11.50 pm Moscow time.
