MOEX sees 30.9% jump in Fees and Commission for the year

The Moscow Exchange Group (MOEX) has released its trading volumes for the full year 2020. Russian market operator registered RUB 34.3 billion in Fee and Commission income (F&C). This represents a 30.9% growth compared to 2019.

MOEX reported that all business lines of F&C posted strong growth in the last year. The exchange noted that the F&C share of operating income reached 71% for the year.

Net interest income (NII) fell 15.3% to RUB 14.2 billion, resulting from declining interest rates. Operating expenses rose 8.5%, in line with guidance. Adjusted net profit increased 13.8% to RUB 25.2 billion.

Moscow Exchange

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

Yury Denisov, MOEX

Yury Denisov

Despite the pandemic, the last year was a very successful one for Moscow Exchange and the Russian financial market as a whole. Russian businesses raised in excess of RUB 4 trillion from institutional and private investors via the issuance of equities and bonds on MOEX. By expanding trading hours and rolling out new instruments such as international equities, Eurobonds and derivatives, we significantly broadened opportunities for investors to trade on the exchange. Major investments in IT, cybersecurity, risk management systems and compliance have resulted in the extremely high reliability of our systems.

The exchange recently reported that the number of individuals with accounts has grown by almost 1.2 million people year-to-date and now it has reached 10 million. In 2020, MOEX added 5 million new retail investors opened brokerage accounts, more than all previous years together.

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