Overview
- The contracts, scheduled to begin trading on Tuesday, Sept. 22, will track MOEX indexes for Bitcoin, Ether, Solana, XRP and Tron and be quoted in U.S. dollar terms.
- Legally each instrument is a one‑day cash‑settled future that automatically rolls into the next trading day and uses a daily funding adjustment to keep prices aligned with the reference index.
- Final settlement, collateral and margin will be handled in Russian rubles so trades clear through the domestic banking and settlement system rather than through crypto wallets or stablecoins.
- Access is limited to investors who meet Russia’s 'qualified' status and to their brokers, a gatekeeping design that could concentrate liquidity among professional accounts and broker networks.
- MOEX says more than 72,000 qualified investors have traded its crypto derivatives and cumulative turnover has passed RUB 600 billion since mid‑2025, but it remains uncertain whether the new perpetuals will materially deepen market liquidity or shift activity onshore.