MOEX releases steady results in January’s volume report

moex moscow exchange

Moscow Exchange (MOEX) has just announced its financial results for the month of January 2019. Total trading volume across Moscow Exchange’s markets was up 1.5% to RUB 58.9 trln in January 2019 (almost equal to January 2018’s RUB 58.0 trln).

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.

MOEX has also announced earlier today that it will launch an updated version of the FAST protocol and a new FAST Full_orders_log Online service to enhance market data delivery from its Derivatives Market.

Trading volumes grew on the Derivatives Market (+9.5%), FX Market (+7.1% in spot) and Money Market (+1.9%). Turnover in agricultural commodities increased almost eightfold.

Equity and Bond Market

Turnover in shares, RDRs and investment fund units was RUB 738.9 bln (January 2018: RUB 823.1 bln). The average daily turnover was RUB 36.9 bln (January 2018: RUB 41.2 bln).

Turnover in corporate, regional and sovereign bonds was RUB 1,335.1 bln (January 2018: RUB 1,445.6 bln). The average daily trading volume (ADTV) was RUB 66.8 bln (January 2018: RUB 72.3 bln).

Thirty-five new bond issues with a combined value of RUB 1,128.0 bln (of which overnight bonds accounted for RUB 358.0 bln) were placed in January 2019.

Derivatives Market

Derivatives Market volumes increased by 9.5% to RUB 5.9 trln (January 2018: RUB 5.4 trln) or 104.2 mln contracts (January 2018: 92.0 mln), of which 100.6 mln contracts were futures and 3.6 mln contracts were options. ADTV was RUB 293.2 bln (January 2018: RUB 267.9 bln).

Open interest at the end of the month reached RUB 599.2 bln (January 2018: RUB 922.7 bln).

FX Market

FX Market turnover was RUB 23.0 trln (January 2018: RUB 25.3 trln.), with spot trades increasing by 7.1% to RUB 5.6 trln and swap trades and forwards totaling RUB 17.4 trln.

The FX Market’s ADTV was RUB 1,147.6 bln (USD 17.2 bln), compared to RUB 1,264.0 bln (USD 22.4 bln) in January 2018 and RUB 1,261.2 bln in December 2018.

Money Market

Money Market turnover grew 1.9% to RUB 24.6 trln (January 2018: RUB 24.2 trln). ADTV was RUB 1,231.0 bln (January 2018: RUB 1,208.4 bln).

Notably, total repo transaction volume cleared by the CCP increased by 21.1% to RUB 19.81 trln, of which the CCP-cleared GCC repo segment was RUB 2.97 trln (growth of 57.3%)

Commodities Market

Turnover in precious metals (spot and swaps) increased by 13% to RUB 7.8 bln (January 2018: RUB 6.9 bln), of which RUB 7.8 bln (2.8 t) was gold and RUB 19.3 mln (594 kg) was silver.

The total trading volume of agricultural products (grain and sugar) grew almost eightfold in January 2019 to RUB 8.6 bln (January 2018: RUB 1.1 bln). ADTV was RUB 428.2 mln (January 2018: RUB 56.8 mln).

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