Hi mate, let me refer you to my thread which I started under "Indices":
http://www.trade2win.com/boards/ind...index-futures-liquid-tradable-instrument.html
In short - yes, you can be very easily start trading not only futures on RTS Index (traded onn FORTS) but also all Ruble and Dollar Russian stocks on MICEX and RTS respectively AND their derivatives, again on FORTS. Trading Russian DRs will of course also be enabled.
Ok let me start from starters 
I am heading up International Sales&Trading at TransKreditBank Capital (
www.tkbc.ru) - Russia's state-owned bank, the Kremlin owns the bank thru Russian Railways (RZhD). I am obviously focusing strongly on Russian / Kazakh / Baltic equities and their derivatives, traded both domestically in those countries and on London International thru their ADRs/GDRs.
Let me know if you want to get set-up with our Cyprus subsidiary, KIT Finance Europe, to start trading Russian and other Emerging Market equities (that I mentioned) and their derivatives both domestically and in London. I will then be opening a single account in Cyprus for you that will have 4 currencies in it (EUR, USD, GBP and RUB-Rubles). That account will give you FULL access to RTS, MICEX and FORTS – thus allowing you to trade Russian local stocks (in RUB and USD) and RTS Index futures and options on FORTS. Obviously you will also be able to trade all GDRs/ADRs in London as well - the likes of Gazprom (OGZD LI), LUKOil (LKOD LI), RosNeft (ROSN LI), Evraz (EVR LI), X5 (FIVE LI), Magnit (MGNT LI) etc........
The structure is the following. You open one SINGLE account at our Cyprus subsidiary – KIT Finance Europe. You can then transfer money into that account in any of the 4 currencies - EUR, USD, GBP and RUB, and convert your money from one currency to another within this account.
There is a Non-Double-Taxation Treaty in place between Cyprus and Russia, so there will be no tax rock-spiders hiding along the way. From this account you can trade Russian local stocks in Rubles (RUB) on MICEX, in USD on RTS – and have full access to listed derivatives products on FORTS – mainly RTS Index futures and options.
What seems to be the main stumbling block for many here is the impression that Russian Ruble (RUB) is non-deliverable. People tend to think that it is impossible to open a RUB account outside of Russia. But since what we offer is a SINGLE Multi-Currency account, we can have RUB as one of the currencies there.
From your perspective – you bypass non-deliverability of RUB, having one single acct. When you need to convert between the currencies, you just give my boys an order to do so within your SINGLE account. The only difference for RUB is that since MICEX is on T+0, you’ll need to have cash in RUB there before you trade. On RTS – where it is T+3 – we will allow you to trade bearing in mind that you will have to convert into USD within 3 days. Pretty much same currency rules for trading RTS Index futures and options on FORTS.
You will not have to deal with any of the Russian banks for money transfers – it can all be done thru JPM e.g.
Here is the link to Cyprus FSA:
http://www.cysec.gov.cy/licence_members_21_en.aspx
stating that our Cyprus subsidiary has the right to conduct its own investment activity and open client accounts.
Fire away any questions that you may have - will be happy to address them. Assuming you have all docs to hand (copy of your passport, utility bill etc... - all basic stuff) I can absolutely guarantee you that the process of account-opening at Cyprus subsidiary will be very straightforward!
It is easier than you think to trade Russian equities! :idea:
