Translation. Region: Russian Federation –
Source: Moscow Exchange – Moscow Exchange –
An important disclaimer is at the bottom of this article.
On March 23, 2026, a unified trading session (UTS) will launch on the Moscow Exchange's derivatives market. Key innovations include the elimination of interim clearing and the transfer of the main clearing session to the end of the trading day, which will increase the transparency and convenience of trading and settlements, as well as expand the cash management capabilities of professional market participants and investors.
Since March 23, trading on the futures market has been conducted according to the following regulations:
Morning additional trading session – from 08:50 to 10:00; main trading session – from 10:00 to 19:00; evening trading session – from 19:00 to 23:50; additional weekend session – from 10:00 to 19:00.
The transition between trading sessions will be carried out without clearing breaks during the day. The evening session will be assigned to the current trading day, not the next, as is currently the case. Thus, the trading day will be synchronized with the calendar day.yu1sch.
Clearing and settlements
Interim clearing on the derivatives market is cancelled, and the main clearing session is rescheduled for the end of the trading day and will run from 11:50 PM to 12:30 AM (currently from 6:50 PM to 7:05 PM). Settlements on the derivatives market will occur on the next settlement day (T1) at 8:00 PM, with trading continuing.
Synchronizing settlement cycles with other Moscow Exchange markets will make position and capital management easier and more convenient for participants actively trading on all markets. Also, eliminating interim clearing will extend the time it takes for participants to close margin calls.
New in contract expiration
Cash-settled contracts (futures contracts and premium options) and futures-margined options will expire at 2:00 PM and 7:00 PM, depending on the instrument specification, without interrupting trading. This will allow the opportunity to release funds locked in the position before the clearing session and utilize the financial result of the executed contract within the same trading day.
The expiration of deliverable futures contracts will take place during the clearing session from 23:50 to 00:30 with the conclusion of delivery transactions on the stock market on the following trading day.
Evening auctions
The introduction of a unified trading session will synchronize the start of evening trading on the stock and derivatives markets: it will run continuously on both markets from 7:00 PM to 11:50 PM. Currently, evening trading on the derivatives market starts at 7:05 PM, and on the securities market at 7:00 PM.
Synchronizing trading schedules will expand opportunities for instant arbitrage between spot and futures instruments, improving ease of use during peak market activity.
A full set of information materials, technical instructions, FAQs and current updates on the transition to the Unified Customs System is available at Moscow Exchange website.
Moscow Exchange Derivatives Market Moscow Exchange is a leading derivatives trading platform in Russia and Eastern Europe, combining advanced infrastructure, reliability, and guarantees, as well as state-of-the-art futures and options trading technologies. Today, the Moscow Exchange derivatives market trades 41 stock options, 3 currency options, a gold option, an index option, and over 150 futures contracts and options on them, with underlying assets including stock indices, stocks, currency pairs, precious and industrial metals, oil, gas, and other commodities, as well as interest rates.
yu1sch The extra session on the weekend remains part of the following business day, in accordance with current rules. Media contact information: 7 (495) 363-3232PR@moex.com
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.
