MOEX announces net profit growth of 2.1% in Q2 2021

Moscow Exchange Group (MOEX) reported its results for the second quarter of 2021. The Russian market operator announced record fee income from the Money Market and strong performance Depository & Settlement Services and the Derivatives Markets which helped exchange sustain double-digit F&C income growth.

MOEX highlighted that net profit rose 2.1% YoY to RUB 7.0 billion and adjusted net profit increased by 1.5%.

The FX Market rose 14.3% to RUB 85.9 billion, compared to the second quarter in 2020.

Fee and commission (F&C) income rose 24.2% to RUB 9.9 billion compared to the same period last year.

Moscow Exchange

Operating income was increased 9.7% YoY and F&C income accounted for more than 75% of operating income.

EBITDA added 3.9% and the adjusted EBITDA margin stood at 72.4%.

Yury Denisov, Chief Executive Officer of Moscow Exchange, said:

We see interest from clients to trade global markets strategies using derivatives. For that reason, we recently launched derivatives on the US stock market, the first futures contracts on Chinese securities to be offered in Russia and we are preparing to launch other stock and index futures – including with Asian underlyings – as well as Russian and international equity options.

We are on track to help investors open up new investment horizons and we will add hundreds of new instruments including international stocks – which will be available in USD beginning this fall – as well as international ETFs and derivatives. Access to the traded markets for investors from various parts of Russia and other countries will expand on the back of ongoing extension of equities trading hours. Clients will be able to trade up to 17 hours a day in most of our markets.

In May, MOEX added 20 international stocks to trading, including stocks from Zoom, Western Digital and Virgin Galactic.


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