Russian bond futures start well

Trading in futures on Moscow municipal bonds got off to a racy start after Russian electronic stock exchange RTS introduced them on 1 June.

The value of open interest in the new contracts rose to Rb1.2b ($41m) in the first month, which saw 112,000 contracts change hands at RTS's futures and options trading facility. They were one of the most liquid instruments, lagging behind only futures on blue-chip...