FX volumes rose 44% in Q2 at Russia’s largest public trading market.

Moscow Exchange reported its Q2 financial results and trading volumes, both of which increased nicely. The exchange reported revenues of RUB 6.3 billion ($189 million) in Q2, up 14% from Q1 and 21% from last year’s Q2.

On the volume side of the ledger, Forex trading volumes were up 44% over last year, although virtually the entire increase was in FX swap trading on the back of higher demand for interest rates products.

While most of the trading on the exchange are Ruble-based pairs — mainly USDRUB and EURRUB — Moscow Exchange has been active adding new products and features. It recently signed a cooperation agreement with Eurex for the trading of Ruble-based FX derivatives. Specifically, Eurex Exchange will launch Euro-Russian Ruble and U.S. Dollar-Russian Ruble FX futures on its trading system. It has also seen record trading volumes in the Yuan-Ruble CNYRUB pair, as interest in Yuan trading grows globally.

To see the Moscow Exchange press release on Q2 results and volumes click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.