Moscow Exchange registers 3.5% MoM drop in Forex ADV in March 2016

Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), the biggest Russian trading venue for currencies, shares and derivatives, has earlier today published its monthly volume metrics for March 2016, with monthly Forex volumes up in monthly terms but average daily volumes (ADV) down from February 2016 levels.

MOEX reported monthly FX market turnover of RUB 30.8 trillion for March 2016, up about 1% from the reading of RUB 30.5 trillion posted in February 2016. Forex ADV, however, amounted to RUB 1.4 trillion in March, down 3.5% from the result of RUB 1.45 trillion reported a month earlier.

In annual terms, the comparison was positive, with March 2016 Forex market turnover, including spot trades of RUB 10.8 trillion and swap trades of RUB 20 trillion, up 40.3% in annual terms.


Let’s take a look at the other market segments:

  • Equity & Bond Market

Secondary market turnover in stocks, RDRs and investment fund units was RUB 870.5 billion in March 2016, markedly higher than the result of RUB 816.1 billion registered in March 2015. The average daily turnover was RUB 39.6 billion in March 2016, slightly up from the reading of RUB 38.9 billion registered a year earlier.

Secondary corporate, regional and sovereign bond turnover rose 30.3% year on year to RUB 877.6 billion.

  • Derivatives Market

Derivatives Market volumes increased by 79.9% year on year and amounted to RUB 11.4 trillion in March 2016. Out of the total of 182.1 million contracts traded last month, 175.5 million contracts were futures and 6.5 million contracts were options.

Open interest at the end of the month was RUB 586.8 billion, markedly higher than in March 2015 (RUB 336.5 billion).

  • Money Market

Money Market turnover increased by 36.9% from March 2015 levels and totalled RUB 26.9 trillion.

The volume of repo transactions with the CCP was RUB 13.1 trillion, tripling the result seen in March 2015.

  • Precious Metals Market

Trading volumes on the Precious Metals Market increased 1.9 times in annual terms to RUB 10.1 billion. Turnover was RUB 10.1 billion (3.6 t) for gold and RUB 7.2 million (207.1 kg) for silver.

You can view the full report from the Moscow Exchange by clicking here.

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