BRICS Exchanges to Cross-list Benchmark Equity Index Derivatives beginning March 30, 2012

On March 30, 2012 BM&FBOVESPA (Brazil), Hong Kong Exchanges and Clearing Limited – HKEx (China), Bombay Stock Exchange (India), MICEX-RTS (Russia) and Johannesburg Stock Exchange (South Africa) will begin to cross-list their benchmark equity index derivatives.  This next step in the integration of the BRICS markets (the BRICSmart project) was announced on March 13, 2012 at the Futures Industry Association”s 37th International Futures Industry Conference in Boca Raton, Florida.

The derivatives to be cross-listed and offered (in the local currency and on local trading hours of each of the respective exchanges) include:

  • Brazil”s IBOVESPA futures;
  • Hong Kong”s Hang Seng Index futures and Hang Seng China Enterprises Index futures;
  • India”s Sensex Index futures;
  • Russia”s MICEX Index futures; and
  • South Africa”s FTSE/JSE Top40 futures.

For more information, please read the press release issued by MICEX-RTS on March 14, 2012 which includes hyperlinks to documents about the BRICSmart project.