Recovery of Russian derivatives market slows down
The growth rate of the Russian derivatives market decreased in 2024 and 2025 H1, due to limited access to external markets.
The values of transactions involving foreign exchange derivatives stabilised in 2025. The decline in foreign currency settlements in external trade transactions limits the potential of this market segment.
The amounts of interest rate derivatives edged up. However, the extended period of tight monetary conditions and the anticipation of their gradual easing reduce demand for hedging interest rate risks.
The absence of accurate Russian indicators of current prices hinders the development of commodity derivatives. Only precious metal derivatives are traded most actively.
The market of exchange traded derivatives expands fairly fast. The value of open positions in futures contracts in the derivatives market of Moscow Exchange went up by almost a third. The value of money market transactions increased most notably.
More details are available in the information and analytical commentary Derivatives Market.