The Moscow exchange in September will start trading futures on the index of key rates

The Moscow Exchange will begin trading with a settlement futures contract for the Bank of Russia key rate index from September 29, 2026. The new tool is aimed at a wide range of market participants, the trading platform said.

Financial companies and their corporate clients will get a convenient way to manage interest rate risk in the exchange circuit. Private investors will also be able to implement trading strategies based on expectations of changes in the Bank of Russia key rate.

The parameters of the estimated futures for the key rate index:

base asset – key rate index; quotation – in points; expiration date and time – 19:00 on scheduled dates of meetings of the Bank of Russia on setting the key rate level.

At the same time, two contracts for the key rate index with the nearest deadlines will be allowed to tender.

The calculation of the key rate index began on August 24, 2026. The indicator value is determined on the basis of information on the key rate values established on the dates of meetings of the Board of Directors of the Bank of Russia, as well as in the period between the dates of meetings. The index values are published once every working day no later than 17:00 GMT.

The key rate is the minimum interest at which the Bank of Russia issues loans to commercial banks and accepts money from them for deposits. In turn, banks focus on the key rate, setting interest on deposits and loans for households and businesses.

At the meeting on September 11, the Board of Directors of the Bank of Russia kept the key rate at 14% per annum. The decision of the Central Bank was the first pause in the current cycle of easing monetary policy, which began in June 2025. The last time the Central Bank left the rate unchanged in April 2025 - at a record level of 21%. Until the end of this year, two more meetings of the Central Bank are scheduled.

Currently, 41 stock options, three currency options, a gold option, an index option, more than 200 futures contracts and options on them are traded on the futures market of the Moscow Exchange. Basic assets are stock indices, stocks, currency pairs, precious and industrial metals, oil, gas and other goods, interest rates.