Moscow Launches Ruble-Renminbi Futures To "Facilitate Trade Between China And Russia"

Tyler Durden's picture

While the west huffs and puffs, and threatens to unleash even more "costs" on Russia in the form of additional sanctions which will assure that Europe's latest deflationary recession is even more acute, an "isolated" Russia is looking to outside, and to the east, and as part of its most recent de-dollarization initiative, the Moscow Exchange announced it has started trading Chinese Renminbi-Russian Ruble currency futures.

From the press release:

From 17 March the Moscow Exchange has started trading in a futures contract on the currency pair Chinese Renminbi — Russian rouble


The launch has been driven by a substantially increasing Renminbi turnover on the Exchange, growing volume of settlement in the currency between Russia and China as well as newly arising demand for hedging of such transactions.


Andrey Shemetov, First Deputy CEO of Moscow Exchange, said:


"The launch of the CNY/RUB futures is the next step made by the Moscow Exchange to offer a full range of Renminbi instruments and hedging tools to participants. We expect that the new contract will be liquid and in-demand as other Exchange's derivatives, and facilitate the trade turnover between China and Russia".


The contract is cash-settled against the Moscow Exchange CNY/RUB fixing.


The contract's expiry dates are every 15th day of March, June, September and December.


IM size is 12%.


Metallinvestbank will act as the market maker for the contract.


Moscow Exchange's turnover in the Chinese Renminbi grew 700% in 2014 to RUB 395 bln (CNY 48 bln). The record average daily trading volume of CNY 541 mln was seen in October.


Currently, the Moscow Exchange's derivatives market offerings include nine FX futures: USD/RUB, EUR/RUB, EUR/USD, AUD/USD, GBP/USD, USD/JPY, USD/CHF, USD/UAH, USD/CAD, and USD/TRY, as well as three options: USD/RUB, EUR/USD, and EUR/RUB.

And in other news, US Treasury Secretary Jack Lew wonders why America's "international credibility and influence is being threatened"...

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Looney's picture

Ruble + Renminbi = Rublinbi? ;-)


Pladizow's picture

America is being slowly marginalized and ignored!

SumTing Wong's picture

Well, it seems that BO has really stuck it to Putin, hasn't he?

smlbizman's picture

did they ask us first?....the fucking gall of these peoples

MisterMousePotato's picture

thank you for not writing "gaul."

swmnguy's picture

Indeed.  Enough to be divided into three parts, if needed.

angel_of_joy's picture

...America is being slowly marginalized and ignored!

Not so slowly, it appears...

HonkyShogun's picture
HonkyShogun (not verified) Pladizow Mar 17, 2015 11:42 AM

Odin-forbid what happens when the Rothschilds have no more use for middle America.

Jewish lightning on a grand scale perhaps?

NoVa's picture

Oblamo is smiling at another of his "achievements".  That guy is detroying this country.


Let him know our support  at





Harbanger's picture

Just checked his job approval numbers and it's trending higher.  Proof that we're the smartest folk in history.

cossack55's picture

Can't wait till I can buy USDs by the bushel

Bokkenrijder's picture

So will the HFT algos have a field day with these futures as well? It's probably not a very liquid market.

cossack55's picture

Rather depends on the color and intensity quality of ones laser.

Kraut's picture

Soon an ounce will buy you a lot of dollars.

Harbanger's picture

Which crashes 1st, Euro or Dollar?

KnuckleDragger-X's picture

American foreign policy....winning.... Now I wanna see Obozo try to bully the Chinese.

Chuck Knoblauch's picture

Obozo is waving a white flag over his anus.

Obozo wants to be President of the UN.

Harbanger's picture

Well, he did say he's the President of World.  The problem is people don't really take what he says seriously.

Chuck Knoblauch's picture

I think he takes himself seriously, and that makes it serious.

KnuckleDragger-X's picture

No, that makes it frightening....

Chuck Knoblauch's picture

Released as planned.

When are you idiots going to realize that this is all following a script between West & East.

You're being laughed at for your ignorance.

Come on ZH, stop this crap now.

Sorry ZH, I forgot who you are.

Maxter's picture

Maybe if you offered more explanation for your claim you would be taken more seriously.



Consumer Farm's picture

Start of the 8th paragraph;

"Sadly, most alternative news outlets will end their analysis here, as if the creation of this alternate payment system in opposition to the US/EU/NATO/Israeli superpower’s hegemon is an unmitigated good. But such an analysis relies on the assumption that the BRICS resistance bloc has motivations and intentions that are truly different than the existing power structure, and not merely rivalrous to it."

Temporalist's picture


U.S. May Revoke Settlement Agreements in Currency-Rigging Probes

"The Justice Department is weighing whether evidence of wrongdoing in currency trading means banks violated old deals resolving probes into the rigging of benchmark interest rates that included promises they wouldn’t break the law, said two people, who asked not to be identified because final decisions haven’t been made."


"The U.S. is negotiating with Barclays, Citigroup Inc., JPMorgan Chase & Co., RBS and UBS to resolve currency-rigging allegations, the people have said.

The department is pressing some banks to plead guilty to charges that traders colluded to rig currency benchmarks using chat rooms with names such as “The Cartel.” That case is more advanced than a parallel inquiry being conducted by the fraud section, which is examining whether banks misled clients about pricing of currency transactions, a person familiar with the matter has said."

glenlloyd's picture

I doubt that anything will come of it but if they manage to jail a corporation it'll be a first.

Any settlement that allows banks to pay a little money and not admit wrongdoing is a bad deal. That needs to stop.

LawsofPhysics's picture

Well, corporations=people and people most certainly can go to prison, so, be optimistic I guess...

either way, tick tock motherfuckers...

Save_America1st's picture

No one will go to jail...but the bankster "suicide" death count may go parabolic one day soon.

Temporalist's picture

Yea I'm not sure they realize how they sound so tongue-in-cheek with this brand of "justice."

Kirk2NCC1701's picture

"The U.S. is negotiating with Barclays, Citigroup Inc., JPMorgan Chase & Co., RBS and UBS to resolve currency-rigging allegations..."

Negotiating?  WTF is that?  So the next time one of us Plebes is investigated and is about to go to court (but never arrested), we simply NEGOTIATE our way out, and reduce the whole thing to an affordable fine?  And no jail time right, since we're "Executive Officers of our Domestic LLC and people's lives depend on us", right?

"In USSA all are equal before the Law.  But some are more equal."

Harbanger's picture

It's plebs, I don't know why people say plebes.  Are you a freshman in Obama's new citizen army?  Then you can say plebes.

BTW -H.R. 748 would require all persons in the US 18-25 to perform 'national service'.  This may be how they will be paying for their free college education.

Grinder74's picture

"we simply NEGOTIATE our way out, and reduce the whole thing to an affordable fine? "

You mean like how the disgorgement of "profits" and the fine are >75% of a person's annual income?  Unlike these banks where their fines are <1% of their annual income?

Wahooo's picture

Thesr little things are starting to add up.

Dr. Engali's picture

Thousands of geese falling from the sky, solar eclipses, super moons, spring equinox,  and geomagnetic storms make for interesting times.

me or you's picture

The signs are out there.   God has spoken, God has chosen Mr. Putin to lead us to a better more bipolar world.

Panic Mode's picture

I can see Putin has been busy making phone calls while he vanished from the media.

farflungstar's picture

Obama is one smooth MF - the more he fails the more people worship him, the less he seems to care.

Heckuva job, Barry!

Chuck Knoblauch's picture

Your perspective is off 180 degrees dude.

farflungstar's picture

Sorry I meant that sarcastically. 

HonkyShogun's picture
HonkyShogun (not verified) farflungstar Mar 17, 2015 11:46 AM

Only liberals worship him because they revel in failure and destruction since they are incapable of creating or maintaining.

Bell&#039;s 2 hearted's picture

King Dollar:  Bring It!


"experts" will be puzzled/amazed how long the DXY > 100

FerretBrain's picture

Well DUH!  Of course!  Any moron can see that when the DXY is nearly 60% composed of the EUR and the other "stellar" heavyweights are JPY, GBP and CAD.

Against that stellar lineup, of course the DXY will stay elevated.  But you've clearly used your keen powers of observation and completely missed the point of the whole article/thread -- the developing alternate currency block presented by China/Russia.  

Try to pay attention.

LawsofPhysics's picture

All fine and good, but who will be the first to actually back their currency with something fucking real...

What part of all fiat will die, don't people understand?

tick tock motherfuckers...

Harbanger's picture

People don't understand economics or the consequences of government control.  They see carrots and promises of carrots.

LawsofPhysics's picture

Well, I am starting to see many questioning the real "value" of many things now.  Too many people who have done the "right" things, gone to the "right" schools, coming back to live with mom and pop with tremendous amounts of unpayable debt.

Personally I am waiting for the "Great Student Debt Forgiveness Program"...

Surprised it hasn't happened yet actually.  Looks like the NSA operatives are out junking you today.

Harbanger's picture

"Great Student Debt Forgiveness Program" means government paid schooling from here on forward.  How can you charge the next set of students money, when the last set didn't have to pay?

Carrots or Consequences?

Edit:  It'l be even better than free healthcare.