Russia Investors Dump Stocks as Margin Requirements Raised
This article is for subscribers only.
Leveraged investors in Russian stock-index futures are liquidating their positions after the biggest slump since 2008 prompted the exchange to increase margin requirements.
Outstanding contracts, known as open interest, for the month of March on the dollar-denominated RTS Index dropped to 1,017,120 at 5:48 p.m. in London, a decline of 13 percent from Feb. 28, according to data compiled by Bloomberg. The gauge sank 12 percent into a bear market today as concern that President Vladimir Putin will invade Ukraine sent Russian assets tumbling. The benchmark Micex Index plunged 11 percent and the ruble sank 1.8 percent against the dollar to a record.