Moscow Exchange sees 7% MoM drop in Forex ADV in April 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 April 2016, with Forex volumes staging a drop in monthly terms, continuing a trend already exhibited in March 2016.

MOEX reported monthly FX market turnover of RUB 27.3 trillion in April 2016, down 11.4% from March 2016 levels (RUB 30.8 trillion). The annual comparison was positive, with the reading for last month up 6.2% year on year.

Forex ADV amounted to RUB 1.3 trillion in April 2016, down 7.1% from March 2016 levels and up 11% from April 2015 levels.


Let’s examine the fortunes of the other market segments:

  • Equity & Bond Market

Secondary market turnover in stocks, RDRs and investment fund units was RUB 969.6 billion in April 2016, up from RUB 911.2 billion from April 2015. The average daily turnover was RUB 46.2 billion in April 2016, up from RUB 41.4 billion in April 2015.

Secondary corporate, regional and sovereign bond turnover rose 29.4% to RUB 961 billion, compared to RUB 742.3 billion registered in April 2015. The average daily turnover was RUB 45.8 billion, up from RUB 33.7 billion in the same month a year earlier.

A total of 37 new bond issues with a combined value of RUB 426.8 billion were placed last month.

  • Derivatives Market

Derivatives Market volumes increased by 67.2% in annual terms to RUB 10.6 trillion, or 179.7 million contracts, of which 173.5 million contracts were futures and 6.2 million contracts were options.

Open interest at the end of the month was RUB 640.4 billion, sharply higher than the RUB 363.4 billion in April 2015.

  • Money Market

Money Market turnover increased by 40.3% year on year and totalled RUB 24.5 trillion. The volume of repo transactions with the CCP was RUB 13.3 trillion (April 2015: RUB 4.4 trillion), while the average daily turnover increased 3.2 times year on year to RUB 633.6 billion.

  • Precious Metals Market

Precious metals trading volumes increased 1.7 times on an annual basis to RUB 10.1 billion. Turnover was RUB 10.1 billion (3.8t) for gold and RUB 1.9 million (52.9kg) for silver.

You can view the full report from MOEX by clicking here.

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