The Futures Market and the Development of Financial Markets in Russia

Abstract

In recent years, the system of financial markets in Russia has been characterized by very high rates of growth at the same time that its level of development continues to lag behind similar markets in foreign countries.1 This is primarily because the starting point, which is the basis for intensive growth, was zero. Commodity markets were represented if only in the most undeveloped forms in the Soviet planned economy. The origin of the financial market was directly connected to the beginning of market reforms and dates back to 1992.