daernhii thanks for your insight !
Oil and other commodities are definitely on our radar for future markets that we plan to add to Morpher, and your example of oil markets going awry makes a great case for it.
I believe that what happened on April 20th was bound to happen and was effectively a ticking timebomb. When Saudi Arabia dumped the market with oil it really depressed prices, but it was for good reason. Lowering the costs of petroleum based products, and ensuring that international trade could still be conducted, in a kind of energy stimulus - sure, I can see the narrative. However, the demand for oil fell so much that many producers were running out of physical storage capacity, and the cost of storage outgrew the price of oil as nobody was willing to purchase anyone's May Oil contracts.
It wasn't a problem endemic to the Moscow Stock Exchange, but to the global oil market for WTI oil. In reality, Russian oil was still trading at "normal" prices:
По данным агентства Argus, баррель российской нефти Urals стоил 20 апреля $17,51 в северо-западной Европе (CIF Роттердам) и $17,26 – в Средиземноморье (CIF Аугуста).
This Russian article talks about how Ural Oil is actually priced: https://bcs-express.ru/novosti-i-analitika/urals-skol-ko-stoit-rossiiskaia-neft
Oil would be a perfect market for us to add to Morpher, it provides great exposure to macroeconomic variables, and in the right geopolitical circumstances would even suit thrill-seekers of volatility trading. There are a number of ways to also virtualise oil markets. For instance, we could have one market for oil which would trade continously, and priced using several contracts, or we could virtualise the contracts individually. I'd prefer to trade individual contracts instead of a continuous oil index.
The good thing is that leveraged trading on Morpher is a lot different than traditional methods. Our leverage is applied on a position level, which means that you can only lose at most the full value of your position (100%), and you cannot lose more than the amount you stake, we have negative balance protection.
As soon as we support oil trading, make sure you reach out to those disgruntled MOEX oil traders and tell them to try oil trading with us 😉