BRICS exchanges to cross-list benchmark equity index derivatives

BRICS exchanges to cross-list benchmark equity index derivatives

The five founding members of the BRICS Exchanges Alliance (BM&FBOVESPA, Open Joint Stock Company MICEX-RTS, Bombay Stock Exchange, Hong Kong Exchanges and Clearing, and Johannesburg Stock Exchange) began cross-listing benchmark equity index derivatives on each other’s trading platforms on 30 March 2012. In this initial stage of implementation, the exchanges aim to expand their product offerings beyond their home markets and give investors of each exchange exposure to the dynamic, emerging, and increasingly important BRICS economies. The derivatives to be cross-listed and offered in the local currency and local trading hours of each of the exchanges will include: Brazil’s IBOVESPA futures; Russia’s MICEX Index futures; India’s Sensex Index futures; Hong Kong’s Hang Seng Index futures and Hang Seng China Enterprises Index futures; and South Africa’s FTSE/JSE Top40 futures.