Micex steams ahead with currency futures

Officials at Moscow Interbank Currency Exchange (Micex) have been celebrating as trading in ruble/dollar futures has seen an outstanding year-on-year increase.

In January and February, underlying volumes totalled $2.8bn, up 800% from the same period last year while the value of open interest rose 600% to $1.7bn. Daily turnover in 2005 averaged $20m compared with $2m in...