MOEX releases steady results in December’s FX Market turnover

moex moscow exchange

Moscow Exchange (MOEX) has announced its financial results for December 2018. Total trading volume across MOEX’s markets increased by 1.5% to RUB 72.5 trln in December 2018.

The Exchange has been quite busy lately, expanding analytics offering for algorithmic and HFT firms. MOEX also launched trading in futures contracts on non-ferrous metals such as aluminum, nickel, zinc and copper, as well as gold futures with physical delivery.

In the middle of October, Moscow Exchange signed MoU with Shenzhen Stock Exchange.

The complete report of MOEX’s December financial results can be seen below:

In 2018, Moscow Exchange’s total trading volume was RUB 861.1 trln. Trading volumes grew on the Equity Market (+17.9%), Bond Market (+13.8%), Derivatives Market (+5.6%), FX Market (+10.6% in spot) and Commodities Market (+19.3%).

Equity and Bond Market

In 2018, total trading volumes on the Equity and Bond Market grew by 24.5% YoY to RUB 32 trln. In December 2018, the market turnover was RUB 2,306.9 bln (December 2017: RUB 2,918.6 bln), hereinafter exclusive of overnight bonds.

Turnover in shares, RDRs and investment fund units increased by 17.9% YoY in 2018 to RUB 10.8 trln. In December 2018, it grew 17% to RUB 770.8 bln (December 2017: RUB 659.0 bln). The average daily turnover was RUB 36.7 bln (December 2017: RUB 31.4 bln).

Turnover in corporate, regional and sovereign bonds was RUB 10.2 bln in 2018. In December 2018, it was RUB 1,536.1 (December 2017: RUB 2,259.6 bln). The average daily trading volume (ADTV) was RUB 73.1 bln (December 2017: RUB 107.6 bln).

613 new bond issues, including overnight bonds, with a combined value of RUB 19.6 trln (up 28.7% YoY) were placed in 2018. In December 2018, 74 new bond issues with a combined value of RUB 1,387.4 (of which overnight bonds accounted for RUB 363.7) were placed.

Derivatives Market

Derivatives Market volumes increased by 5.6% in 2018 to RUB 89.3 trln. In December 2018, they increased by 36.3% to RUB 8.2 trln (December 2017: RUB 6.0 trln) or 145.6 mln contracts (December 2017: 111.2 mln), of which 140.4 mln contracts were futures and 5.2 mln contracts were options. ADTV was RUB 392.4 bln (December 2017: RUB 287.9 bln).

Open interest at the end of the month was RUB 454.3 bln (December 2017: RUB 702.9 bln).

Total trading volumes on the Standartised OTC Derivatives Market increased sevenfold in 2018 to RUB 884 bln.

FX Market

FX Market turnover increased by 0.2% in 2018 to RUB 34.8 trln. In December 2018, it was RUB 26.5 trln (December 2017: RUB 29.8 trln; November 2018: RUB 26.8 trln), with spot trades increasing by 12.8% to RUB 6.7 trln and swap trades and forwards totaling RUB 19.8 trln.

In December 2018, the FX Market’s ADTV was RUB 1,261.2 bln (USD 18.8 bln), compared to RUB 1,416.7 bln (USD 24.2 bln) in December 2017.

Money Market

Money Market turnover totaled RUB 364.2 trln in 2018. In December 2018, it grew by 7.6% to RUB 30.3 trln (December 2017: RUB 28.2 trln). ADTV was RUB 1,443.5 bln (December 2017: RUB 1,341.5 bln).

In December 2018, the volume of repo transactions with the CCP increased by 16.5% to RUB 19.7 trln (December 2017: RUB 16.9 trln). The CCP-cleared GCC repo segment surged 142% to RUB 4.4 trln (December 2017: RUB 1.8 trln).

Commodities Market

Total trading volumes on the Commodities Market in 2018 grew by 19.3% to RUB 152 bln. In December 2018, it grew by 62.8% to RUB 15.0 bln.

Turnover in precious metals (spot and swaps) was RUB 102 bln in 2018. In December 2018, it grew by 2.5% to RUB 8.3 bln (December 2017: RUB 8.1 bln), of which RUB 8.3 bln (3 t) was gold and RUB 77.0 mln (2.4 t) was silver.

Total trading volume of agricultural products (grain and sugar) increased more than eightfold in 2018 to RUB 50 bln. In December 2018, it went up sixfold to RUB 6.6 bln (December 2017: RUB 1.1 bln). The ADTV was RUB 315.5 mln (December 2017: RUB 50.3 mln).

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