Moscow Exchange Forex volumes fall 11% MoM in May

Moscow Exchange (MOEX) announced today trading volumes for May 2016. Total trading volumes on the exchange increased by 33.5% YoY to RUB 58.1 trln.

The Derivatives Market and Money Market posted the strongest growth, with volumes increasing 76.1% and 57.9% YoY, respectively. Trading volumes increased by 14.1% YoY on the FX Market, 5.2% YOY on the Equity Market and 3.8% YOY on the Bond Market.

FX Market

FX Market turnover rose 14.1% to RUB 24.1 trln (May 2015: RUB 21.2 trln), including spot trades of RUB 6.7 trln and swap trades of RUB 17.4 trln. MoM volume was lower by 11% from April’s RUB 27.3 trillion in turnover (see chart above).

The FX Market’s average daily turnover was RUB 1,270.1 bln (USD 19.3 bln) compared to RUB 1,175.5 bln in May 2015.

Equity & Bond Market

Secondary market turnover in shares, RDRs and investment fund units was RUB 675.1 bln (May 2015: RUB 641.6 bln). Trading volume in shares increased by 5.2% YOY. The average daily turnover was RUB 35.5 bln in May 2016 (May 2015: RUB 35.6 bln).

Secondary corporate, regional and sovereign bond turnover rose 3.8% to RUB 633.9 bln (May 2015: RUB 610.6 bln). The average daily turnover was RUB 33.4 bln (May 2015: RUB 33.9 bln).

A total of 18 new bond issues with a combined value of RUB 197.5 bln were placed in May.

Derivatives Market

Derivatives Market volumes increased by 76.1% and amounted to RUB 7.8 trln (May 2015: RUB 4.4 trln), or 132.2 mln contracts (May 2015: 93.3 mln contracts), of which 127.4 mln contracts were futures and 4.8 mln contracts were options.

Open interest at the end of the month was RUB 711.2 bln (May 2015: RUB 449.2 bln).


Money Market

Money Market turnover increased by 57.9% YoY and totalled RUB 21.3 trln (May 2015: RUB 13.5 trln). The average daily turnover was RUB 1,120.8 bln (May 2015: RUB 749.4 bln).

The volume of repo transactions with the CCP was RUB 11.2 trln (May 2015: RUB 3.3 trln), while the average daily turnover increased 3.2 times YoY to RUB 591.3 bln.

Precious Metals Market

Trading volumes on the Precious Metals Market increased 1.4 times YoY to RUB 10.1 bln. Turnover was RUB 10.1 bln (3.8 t) for gold and RUB 2.0 mln (55 kg) for silver.

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