Eurex has begun launching products on emerging markets, starting with derivatives on Russian underlying. With futures contracts on the newly introduced RDXxt USD - RDX Extended index, Eurex offers easy access to the Russian stock market.
The index comprises of the 15 most-traded Depository Receipts (DRs) on Russian companies is calculated and published by Wiener Börse AG (Vienna Stock Exchange) real-time in U.S. dollar. All index constituents are exchange listed DRs selected by liquidity, market capitalization and significance of the underlying stocks, price availability of the Depositary Receipt, sector representation and market interest.
The index composition will be reviewed twice a year, in March and September. The maximum weighting per index component is capped at ten percent. The weighting factors will be reviewed and adjusted quarterly. By limiting the maximum weight, the RDXxt USD - RDX Extended Index complies with the requirements of UCITS and those of U.S. regulators with regard to a broad-based index. The index will not be adjusted due to dividend payments.
Eurex intends to have the index futures admitted to trading in the United States at CFTC.