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Continuing a trend of strong June FX trading volumes worldwide, propelled in part by action around Brexit, Moscow Exchange has reported that FX turnover rose 16% MoM in June.
Overall volumes on Moscow Exchange were up 21% in June to RUB 70.2 trillion, from RUB 58.1 trillion in May.
The Money Market and Derivatives Market posted the strongest growth, with volumes increasing 48.7% and 42.6% YoY, respectively. Trading volumes increased by 35.1% YoY on the Bond Market and 9.1% YOY on the Equity Market.
Equity & Bond Market
Secondary market turnover in shares, RDRs and investment fund units was up 9.1% to RUB 783.1 bln (June 2015: RUB 718.0 bln). The average daily turnover was RUB 37.3 bln in June 2016 (June 2015: RUB 34.2 bln).
Secondary corporate, regional and sovereign bond turnover rose 35.1% to RUB 1,186.1 bln (June 2015: RUB 878.1 bln). The average daily turnover was RUB 56.5 bln (June 2015: RUB 41.8 bln).
A total of 32 new bond issues with a combined value of RUB 262.2 bln were placed in June.
Derivatives Market volumes increased by 42.6% and amounted to RUB 9.3 trln (June 2015: RUB 6.6 trln), or 159.9 mln contracts (June 2015: 125.9 mln contracts), of which 154.0 mln contracts were futures and 5.9 mln contracts were options.
Open interest at the end of the month was RUB 485.3 bln (June 2015: RUB 440.1 bln).
FX Market turnover was RUB 27.93 trln (June 2015: RUB 27.86 trln), including spot trades of RUB 8.3 trln and swap trades of RUB 19.6 trln.
The FX Market’s average daily turnover was RUB 1,330.1 bln (USD 20.4 bln) compared to RUB 1,326.9 bln in June 2015.
Money Market turnover increased by 48.7% YoY and totalled RUB 26.1 trln (June 2015: RUB 17.5 trln). The average daily turnover was RUB 1,240.9 bln (June 2015: RUB 834.8 bln).
The volume of repo transactions with the CCP was RUB 14.0 trln (June 2015: RUB 4.6 trln), while the average daily turnover increased 3.0 times YoY to RUB 665.1 bln. The volume of GCC repo transactions totalled RUB 30.7 bln in June 2016 and RUB 88.6 bln since the launch of the instrument in February 2016.
Precious Metals Market
Trading volumes on the Precious Metals Market increased 1.3 times YoY to RUB 10.3 bln. Turnover was RUB 10.3 bln (3.7 t) for gold and RUB 2.0 mln (56.6 kg) for silver.