Moscow Exchange sees 9% Q/Q drop in net profit in Q1 2016


Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), the biggest Russian venue for trading currencies, stock and derivatives, has earlier today published its financial report for the first three months of 2016, with profits down in both quarterly and annual terms.

MOEX posted net profit for the first quarter of 2016 of RUB 6.98 billion, down 9% from the result for the final quarter of 2015 and down 3.1% from the result for the same period a year earlier.

Operating income amounted to RUB 11.74 billion, down 8.1% from the preceding quarter and down 1.1% from the first quarter of 2015.

At the same time, fees and commission income surged 32.2% from the first quarter of 2015 to RUB 5 billion. Fee and commission income from the FX Market increased 48.1% on an annual basis to RUB 1.3 billion.

Trading volumes on the FX Market totalled RUB 89 trillion in the first quarter of 2016, up 59.5% from the first quarter of 2015. Thanks to continued FX rate volatility, spot trading volumes rose 69.1% from the same period a year earlier, while swap trading volumes increased 53.8% on the back of continued demand for liquidity-management products.

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

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Moscow Exchange sees 9% Q/Q drop in net profit in Q1 2016

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