First Oil Option In Russia

Starting  from October 18 2010 RTS launches first option contracts on Russian oil (Brent). The latter will enable the parties to the spot market to protect themselves from changes in commodity prices, and financial players to expand the range of instruments.
On the futures market of RTS, FORTS, now there are two types of futures contracts: Brent oil which is the reference in the European oil market and the Russian Urals oil. The exchange decided to try trading options on more liquid futures. New options contracts will be executed as the underlying asset Brent oil futures every month.