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29

Russia's Rosneft Floats Futures on the RTS

Russian state oil firm Rosneft will float futures on the RTS in a week

Russian state oil firm Rosneft will float futures on the RTS from mid-October, Russia's premier stock exchange said Tuesday.

Rosneft held an initial public offering this summer in Moscow and London, the biggest in Russia's corporate history and the world's fifth largest, raising $10.4 billion.

Rosneft had planned to launch futures trading in late September. The RTS approved a contract with the company on August 17, and the document was submitted to the Federal Service for Financial Markets for registration.

"Rosneft securities have become liquid enough to launch futures," RTS President Oleg Safonov said.