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24 November 2011 Moscow Sergey Danov, Director of Commodities Market RTS Stock Exchange OVERVIEW OF THE REGULATED PRECIOUS METALS MARKET

Russian Metals Market (FORTS)

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Overview of the Russian Metals Market: key facts and trading volume; TOP-30 derivatives exchanges and plans for 2012: repo trades on precious metals markets, physical delivery under derivatives contracts.Sergey Danov, Head of Commodities Market RTS

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Page 1: Russian Metals Market (FORTS)

24 November 2011

Moscow

Sergey Danov,

Director of Commodities Market

RTS Stock Exchange

OVERVIEW OF THE

REGULATED PRECIOUS

METALS MARKET

Page 2: Russian Metals Market (FORTS)

RTS IS THE LEADING DERIVATIVES EXCHANGE IN

EASTERN EUROPE

Infrastructure

• Central Counterparty to

on-exchange trades

• Settlement infrastructure

•139 accredited brokerage

companies and banks

• Reliable risk

management system

(successful stress tests -

1998, 2008, 2011)

Overview of the regulated bullion market

Page 3: Russian Metals Market (FORTS)

DEVELOPMENT OF THE BULLION DERIVATIVES MARKET

Key facts 2006-2011

• 4 metals

(gold, silver, platinum, palladium)

, 7 instruments (4 futures, 3

option contracts)

• Average daily trading volume

has increased 150 times to 1.5

million troy ounces

• In 2011 the number of traders

reached 12,939, a 50% growth

on 2010 figures

Overview of the regulated bullion market

trading volume breakdown by investors

Page 4: Russian Metals Market (FORTS)

LIQUID REGULATED MARKET

Key facts 2006-2011

• Average number of trades per day –

11,897

• Average trade size – 6.5 oz

• Average bid/offer spread for gold

contracts – $0.8/oz, for silver

contracts – $0.04/oz

Overview of the regulated bullion market

Page 5: Russian Metals Market (FORTS)

MAIN STRATEGIES ON THE PRECIOUS METALS MARKET

Arbitrage trades:

Ask Comex – Bid RTS

Spot vs. derivatives

spread:

Ask Spot – Bid RTS

Overview of the regulated bullion market

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Page 6: Russian Metals Market (FORTS)

PLANS FOR 2012

Page 7: Russian Metals Market (FORTS)

PROSPECTIVE DEVELOPMENT PROJECTS

Regulated spot metals

market

• Repo trades on the precious

metals market

• Commodity ETF:

Issuers – banks and

investment companies

Underlying metals –

gold and silver

Assets safekeeping –

bank vaults or CBR

vaults

• OTC trades clearing

Metals derivatives market

• Physical delivery under

derivatives contracts

Via unallocated metal

accounts set up with

accredited banks

Automated procedure

Risk management by the

exchange

Overview of the regulated bullion market

Page 8: Russian Metals Market (FORTS)

THANK YOU FOR YOUR ATTENTION!

Contacts:

Tel.: +7 (495) 705-90-31, ext 123

E-mail: [email protected]

Web: www.micex.ru, www.rts.ru

Reuters: MICEX, RTSMAIN