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RTS bourse to launch domestic oil futures at start of 2007

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The RTS, Russia's leading stock market, will begin trading ruble-denominated futures for the domestic price of oil and oil products from 2007, RTS Vice President Roman Goryunov said Friday.

MOSCOW, May 22 (RIA Novosti) - The RTS, Russia's leading stock market, will begin trading ruble-denominated futures for the domestic price of oil and oil products from 2007, RTS Vice President Roman Goryunov said Friday.

The RTS had previously announced it would begin trading futures contracts for the export price of oil.

RTS President Oleg Safonov said RTS had signed an agreement with Platts, a leading international provider of energy information, on providing price data on which oil futures trading would be based.

"Later on we will be able to launch trade and delivery contracts," Safonov said.

The ruble-denominated futures will have a settlement period of one month, and a minimum security guarantee on any contract of 10% of its overall value

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