Moscow Exchange launches five crypto perpetual futures for qualified investors

Moscow Exchange adds perpetual futures on five crypto indexes

Moscow Exchange listed perpetual futures tied to five major cryptocurrencies on Sept. 22. The contracts cover Bitcoin, Ethereum, Solana, XRP and Tron. CryptoSlate reported the launch, citing information from the exchange.

The products are named BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF and TRXUSDF. Each one tracks a matching MOEX crypto index. A futures contract follows an asset's price without the buyer taking delivery of it. In this case, the contracts are quoted against US dollar-denominated indexes, while profits and losses are settled in Russian rubles. No cryptocurrency changes hands.

Each contract lasts one day and rolls automatically into the next trading period. According to the report, this lets investors keep continuous exposure without manually moving to a new contract when the old one ends. Access is limited to qualified investors.

What is confirmed about the new contracts

• Only qualified investors can trade the products.
• The futures are cash-settled and never deliver the underlying cryptocurrency.
• Minimum first-tier margin rates are 22% for Bitcoin, 35% for Ether, 38% for Solana, 43% for XRP and 30% for Tron. Margin is collateral a trader must set aside to hold a position. XRP carries the highest requirement of the five.
• Funding parameters are set at K1 0% and K2 0.35%.
• Concentration limits LK1 and LK2 range from 961 and 4,807 contracts for XRPUSDF up to 124,490 and 622,450 for ETHUSDF.
• MOEX said on Sept. 16 that more than 72,000 qualified investors had traded its digital-asset futures, and that cumulative turnover in those products passed 600 billion rubles.

Details that are not yet fixed

The concentration limit figures cannot be compared directly as measures of market exposure because the contracts have different specifications and values, according to the report.

Brokers will decide the final trading conditions offered to each qualified client. That means the terms an individual investor receives will depend on their broker.

Why the launch matters for Russian investors

The futures give qualified investors a way to follow crypto prices through a contract on a regulated exchange without buying or holding the coins themselves.

The products expand Moscow Exchange's existing derivatives market. They do not open spot crypto trading, which means buying and selling the actual tokens, to ordinary retail investors.

Sources

• CryptoSlate
• Moscow Exchange contract announcement referenced in the report
• Moscow Exchange margin rates referenced in the report

Read also: Bitcoin Tops $85,000 as $648 Million in Short Positions Are Liquidated