1 / 6

Russian Derivatives Market: expecting the breakthrough Rouble Derivatives in London

Russian Derivatives Market: expecting the breakthrough Rouble Derivatives in London. Danny Corrigan Director, International Business Development. MICEX 18 May 2007. ICAP : Activities.

kory
Download Presentation

Russian Derivatives Market: expecting the breakthrough Rouble Derivatives in London

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Russian Derivatives Market: expecting the breakthroughRouble Derivatives in London Danny Corrigan Director, International Business Development MICEX 18 May 2007

  2. ICAP : Activities • ICAP plc provides independent broking services to commercial & investment banks in the wholesale financial markets via ‘voice’ and electronic means. • Major products: OTC derivatives, fixed income securities, money market products, foreign exchange, energy, credit, and equity derivatives. • HQ London, FTSE 100 company, Market Capitalization RUB 169bn (GBP 3.38bn), Employ 3,070 in 23 financial centres, trade USD1.5 tn daily

  3. ICAP : Ruble Derivative Products traded in London • Non-deliverable forward FX EMTA fix, no movement of principal’ upto 7 years, • Cross currency swaps Ruble fixed, vs 3 month USD LIBOR $25mn’ upto 5 years • Interest rate swaps Ruble fixed vs 3mo MosPrime, Rouble 500mn, upto 7 years • Basis Swaps 3month USD LIBOR vs 3mo MOSPRIME, up to 5 years

  4. ICAP : Ruble Derivative Products traded in London : Participants • International banks with trading hub in London • International banks based in other financial centres: Vienna, Amsterdam, Brussels, Paris, Stockholm • Russian banks in Moscow • International bank subsidiaries in Moscow • In total: over 50 active

  5. ICAP : Ruble Derivative Products traded in London : Drivers • Rouble exposure • Hedging • Funding • Development of a term interest rate curve

  6. ICAP : Ruble Derivative Products traded in London : Issues • Rouble cash settlement • Credit and Credit enhancement: Collateral Margining, ‘Prime’ • Basle 2 : Ratings, Collateral

More Related