Moscow Exchange FX volumes take a 20% tumble over March, despite significant increase YoY


Moscow Exchange’s (MOEX:ME) turnover was 41.7 billion rubles during April 2014, which represents a lower figure than April 2013’s 42.4 billion rubles.

The Russian venue experienced an upturn in trading volumes of equities & bonds when compared with April 2013’s figures, as its secondary market turnover in stocks, RDRs, and investment fund units totalled 952 billion rubles during April 2014, whilst in April 2013, total volume amounted to 796 billion. The average daily turnover for April 2014 was 43.3 billion rubles. In April 2013, Moscow Exchange completed the month with a figure standing at 36.2 billion rubles.

Corporate and sovereign bond turnover was 759 billion rubles, whereas in April 2013 it was a substantially higher 1,331 billion rubles. The average daily turnover was 34.5 billion rubles, compared with almost double the volume during April 2013, at 60.5 billion rubles.

A total of 15 new bond issues with a combined value of 45 billion rubles were placed during April.

Derivatives market turnover was 4.3 trillion rubles, whereas last April the exchange reported higher volumes, with April 2013’s derivatives turnover having amounted to 5.4 trillion rubles, or 107 million contracts compared to April 2013’s 128 million contracts, of which 3.9 trillion rubles were futures and 341 billion rubles were options.

Open interest was RUB 540 bln at the end of the month, whereas in April 2013, this amounted to 92 billion.

FX market turnover was 18.6 trillion rubles, which, although up from the same month last year, during which Moscow Exchange reported 15.2 trillion rubles. Whilst up compared to last year, April 2014’s figure represents a more than 20% downturn compared to the  massive increase which was reported by the venue during March this year which hinted at the exchange’s participation in the exponential interest worldwide in exchange-traded FX. During March, FX turnover was a very satisfactory 23 trillion rubles.

April 2014’s figures including spot trades of 5.8 trillion rubles which equates to 31.4% of the total, and swap trades of 12.8 trillion rubles, serving to indicate that there is a trend toward on exchange FX trading appearing worldwide.

Compounding this dynamic further, the FX market’s average daily turnover was 845 billion during April 2014, substantially increased figure over April 2013’s 691 billion rubles.

Money market turnover totalled 17.0 trillion rubles, down from April 2013’s 19.4 trillion rubles. The average daily turnover was also down year-on-year at 775 billion rubles copared to April 2013’s 881 billion.

The volume of repo transactions with the central counterparty reached a record 1.5 trillion, and average daily turnover was 66.2 billion rubles.

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Moscow Exchange FX volumes take a 20% tumble over March, despite significant increase YoY

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