Russian broker to develop ‘locally manufactured’ range

The Russian brokerage firm launched on December 28 the first ever securitised version of a derivative contract which was manufactured in-house and sold OTC. The one-year bond is based on a non-principal protected autocallable structure linked to a basket of Russian blue chips listed on the Moscow Stock Exchange including Gazprom (gas producer), Nornickel (mining), Sberbank (banking) and Moex (stock exchange), will pay a 16% per annum coupon paid quarterly if all underlying are above 75% of thei