Ruutu has five goals and 16 points in 57 games this season for the Hurricanes. The 31-year-old forward has two years remaining on his contract beyond 2013-14 that carry an average annual value of $4.75 million.
He missed a large chunk of the 2012-13 season because of offseason hip surgery. Ruutu has nine goals and 25 points in 72 games in the past two seasons combined, and 138 goals and 324 points in 606 NHL games.
Ruutu had a goal and five points in six games to help Finland win the bronze medal at the 2014 Sochi Olympics.
Loktionov, 23, has four goals and 12 points in 48 games for the Devils this season. He is scheduled to be a restricted free agent at the end of the season. Acquired from the Los Angeles Kings before last season, Loktionov has 19 goals and 38 points in 135 NHL games.