SPB Exchange to add 20 foreign-stock futures on Oct 7, total reaching 65
In short
SPB Exchange said it will start trading 20 additional futures on foreign shares on Oct 7, bringing the total number of “neoatives” on foreign securities to 65, according to the exchange’s press service. Interfax said the new contracts cover companies including Airbnb, AST SpaceMobile, Cloudflare and Zoom Communications. RBC noted that perpetual futures on securities of 45 global companies are currently available on the venue.
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SPB Exchange will begin trading 20 additional futures on foreign shares on October 7, the exchange’s press service said, according to Kommersant and Interfax. The total number of the instruments, which the exchange calls “neoatives”, on foreign securities will reach 65 after the expansion, the two outlets reported. Interfax described “neoatives” as futures contracts whose variation margin is fixed on closed positions. [ 1 , 3 ]
Among the companies named in the additions are Airbnb, AST SpaceMobile and Cloudflare, while Interfax also lists Zoom Communications and Kommersant names Affirm, Block, MercadoLibre, Shopify, Snowflake, Tempus AI and Zscaler, among others. Kommersant, citing the press release, said the list was expanded with companies from artificial intelligence, cloud software, cybersecurity, e-commerce, digital finance, satellite communications, energy and medical technology. RBC reported in its feed summary that perpetual futures on securities of 45 global companies are currently available for trading on the venue. [ 1 , 2 , 3 ]
On mechanics, Kommersant reported that one “neoativ” corresponds to one share, the price-step currency is the US dollar and settlement is in Russian rubles. Interfax said the financial result is calculated in the quote currency and credited or debited in rubles, and that commission is charged only when an open position is carried into the next day. Kommersant said opening a position requires collateral whose size depends on the instrument’s price and market volatility and is recalculated daily, and that non-qualified investors need a test for non-crypto “neoatives” while crypto instruments are available only to qualified investors. [ 1 , 3 ]
The two outlets differ on trading hours. Interfax said “neoatives” on securities trade on weekdays from 7:00 to 23:00 and on weekends from 10:00 to 23:00, with crypto-index “neoatives” traded weekdays 7:00 to 00:00 and weekends 10:00 to 00:00. Kommersant reported that trading runs on weekdays from 7:00 to 00:00 MSK and on weekends and holidays from 10:00 to 00:00 MSK. [ 1 , 3 ]
SPB Exchange launched trading in “neoatives” in April, Interfax and Kommersant reported. Interfax said the first underlying assets were shares of Amazon.com Inc., Coinbase Global, Netflix Inc., Tesla and Advanced Micro Devices, along with crypto indices Bitcoin, Ethereum, Solana, Ripple and Tron. Kommersant said the format appeared after the exchange suspended Russian investors’ transactions with foreign shares in November 2023 following US sanctions against the venue. [ 1 , 3 ]
Why it matters
The step widens the set of foreign shares Russian investors can gain exposure to through a domestic derivatives instrument, a format Kommersant links to the November 2023 suspension of Russian investors’ trading in foreign shares on SPB Exchange after US sanctions against the venue. The documents give no figures on expected trading volumes, revenue or demand.
Key facts
- SPB Exchange will begin trading 20 additional futures on foreign shares on October 7. [ 1 , 3 ]
- After the expansion, the total number of “neoatives” on foreign securities will reach 65, according to the exchange’s press service. [ 1 , 3 ]
- Perpetual futures on securities of 45 global companies were available on SPB Exchange before the expansion. [ 2 ]
- SPB Exchange launched trading in “neoatives” in April. [ 1 , 3 ]
- Companies named among the additions include Airbnb, AST SpaceMobile and Cloudflare, while Interfax also lists Zoom Communications and Kommersant also names Affirm, Block, MercadoLibre, Shopify, Snowflake, Tempus AI and Zscaler, among others. [ 1 , 3 ]
- Kommersant reported, citing the exchange’s press release, that the additions come from artificial intelligence, cloud software, cybersecurity, e-commerce, digital finance, satellite communications, energy and medical technology. [ 3 ]
- Each “neoativ” corresponds to one share; the price-step currency is the US dollar and settlement is in Russian rubles, Kommersant reported. [ 3 ]
- Kommersant reported that non-qualified investors need a test for non-crypto “neoatives”, while crypto instruments are available only to qualified investors. [ 3 ]
Confirmed by several sources
- SPB Exchange will start trading 20 additional futures on foreign shares on October 7, with the total number of “neoatives” on foreign securities reaching 65. [ 1 , 3 ]
- Trading in “neoatives” was launched by SPB Exchange in April. [ 1 , 3 ]
- The additions include Airbnb, AST SpaceMobile and Cloudflare. [ 1 , 3 ]
Still unclear
- The trading schedule for “neoatives” on securities: Interfax reports weekdays 7:00–23:00 and weekends 10:00–23:00, while Kommersant reports weekdays 7:00–00:00 MSK and weekends and holidays 10:00–00:00 MSK. Two tier-1 business outlets give different session hours for the same product, so the exact schedule is not settled by the documents.
- The complete list of the 20 new instruments. Both documents that name companies say “and others”, so fewer than half of the 20 additions are identified; only Kommersant attributes a sector breakdown to the exchange’s press release.
- The background link between the product and sanctions: Kommersant says the format appeared after SPB Exchange suspended Russian investors’ transactions with foreign shares in November 2023 following US sanctions against the venue. This context appears in only one document and is not stated by the exchange in the material quoted.
What local media are saying
Timeline, local time
- Interfax reports that SPB Exchange will start trading 20 additional “neoatives” on foreign shares on October 7, and sets out the product’s mechanics and trading hours. [ 1 ]
- RBC notes that perpetual futures on securities of 45 global companies are currently available on SPB Exchange. [ 2 ]
- Kommersant reports, citing the exchange’s press service, that trading in the 20 new futures begins on October 7 and that the total number of “neoatives” on foreign securities will reach 65. [ 3 ]