With Russia’s growing presence in global FX markets, increasing demand for ruble liquidity and national Forex regulation on the horizon, many industry participants are paying close attention to developments within the poignant executing venue, Moscow Exchange.
Today, Moscow Exchange announced its monthly volume figures for all asset classes, with FX being a large contributing factor toward successful results for October 2014.
Overall FX volume at Moscow Exchange during October amounted to 21.7 trillion rubles, which is 14.8% higher than the 18.7 trillion rubles achieved in September.
This equated to substantial average daily volume of 944.4 billion rubles ($23.1 billion) in Oct compared to 850.3 billion ($22.4 billion) in September this year.
As far as the derivatives market is concerned, market turnover was RUB 6.3 trillion, which is up significantly from the same period last year, when in October 2013, 3.8 trillion was achieved, which amounted to 142.8 million contracts.
In October 2013: 82.4 million contracts were traded, almost half that of October this year, of which 5.7 trillion rubles were futures and RUB 0.6 trillion were options.
The growth was driven mainly by increased volumes in FX futures, which were up 3.5 times YoY in October to RUB 3.7 trillion.
On 30 October, turnover was RUB 617 billion, or 13.9 million contracts, a record since the launch of the Derivatives Market. The previous record was set in September 2012. The average daily trading volume for the month was RUB 272.6 billion.
The month’s open interest was RUB 764.7 billion (October 2013: RUB 475.9 billion).
For the full announcement from Moscow Exchange click here.