The Russian derivatives market has seen a slowdown in growth during 2024 and the first half of 2025. This is attributed to restricted access to external markets.
According to recent data, transaction values for foreign exchange derivatives stabilized in 2025. However, the reduction in foreign currency settlements for external trade continues to limit this segment’s potential.
Interest rate derivatives have experienced a slight increase in volume. Despite this, ongoing tight monetary policy and expectations of gradual easing are dampening demand for interest rate risk hedging.
Commodity derivatives development remains hindered by the lack of reliable Russian price indicators. The most active trading continues to be in precious metal derivatives.
Meanwhile, the exchange-traded derivatives market is growing at a relatively fast pace. Open positions in futures contracts on the Moscow Exchange’s derivatives market increased by nearly one-third. Money market transactions showed the most significant rise.
More detailed analysis can be found in the information and analytical commentary Derivatives Market.
