The Central Bank of Russia published a review showing that the Russian derivatives market expanded from July 2025 to June 2026 despite ongoing restrictions, supported by increased activity among domestic participants. Nonfinancial companies were the main drivers, with demand for foreign currency hedging contributing to growth in foreign exchange derivatives. Key rate reductions that began in 2025 boosted ruble denominated interest rate derivatives, particularly interest rate swaps. Open futures positions on Moscow Exchange rose by almost one third, led by the money market and securities segments, while individuals held the largest shares in commodities and securities. Moscow Exchange and PJSC SPB Exchange also introduced cryptocurrency futures, with market interest concentrated in Bitcoin and Ethereum.
Central Bank of Russia reports derivatives market growth driven by domestic nonfinancial companies
The Central Bank of Russia reported growth in the derivatives market from July 2025 to June 2026, driven mainly by domestic nonfinancial companies. Interest rate swaps and foreign exchange hedging supported activity, while open futures positions on Moscow Exchange rose by almost one third and new cryptocurrency futures attracted demand focused on Bitcoin and Ethereum.