Russia's Forts will settle US dollars
MOSCOW - The Russian Trading System's futures and options division (Forts) will introduce settlement in US dollars by year-end, a senior official told FX Week in London last week.
Settlement currently takes place in roubles, but Yevgeny Serdyukov, head of Forts, said a dollar option will enable international traders, and domestic traders with dollar deposits, to eliminate currency risk at settlement.
Forts has experienced a surge in usage, with total trading volumes in the first quarter worth
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