Moscow Exchange’s Forex Market Grows 20.4% in August - Finance Magnates

The forex market trading volume of the Moscow Exchange (MOEX), Russia’s largest exchange group, surged 20.4% to RUB 20.9 trillion in August.

In July, total trading volume in the market slipped away from recovery, dropping 3% to RUB 17.3 trillion.

Earlier in June, forex demands on MOEX had recovered to RUB 17.8 trillion from the RUB 16.1 trillion generated in trading volumes in May.

The trading volume figures for August 2022 published by MOEX on Friday also disclosed that forex spot trading volume shot up 1.9% to RUB 8.4 trillion.

Furthermore, swap trades and forwards volume reached RUB 12.5 trillion, a 37.2% increase.

Across Board

On a whole, total trading volumes across all markets on MOEX climbed by 7.3% to RUB 81.2 trillion in August 2022. In July, the overall markets had generated RUB 75.7 trillion in trading volumes.

“Top risers in trading volumes were the bond market (up 35.9%), precious metals market (up 21.3%), FX market (up 20.4%), equity & bond market (up 15.5%) and money market (up 5.5%),” Moscow Exchange wrote in its financial report.

Performance in Equity & Bond Market

According to MOEX, total trading volume on the equity and bond market in August surged by a quarter (25.4%) to reach RUB 1,872.1 billion as against RUB 1,492.7 billion in July.

The exchange noted that 57 new bonds were issued in August and they generated a combined value of RUB 1,183.9 billion, with overnight bonds accounting for RUB 700.1 billion of this figure.

Last month, the Moscow Exchange recorded 44 new bond issues with a combined value of RUB 506.3 billion.

Furthermore, MOEX disclosed that the trading volume in shares, depositary receipts and investment fund rose by 15.5% to RUB 887 billion from July’s RUB 767.7 billion.

Farther in June, the figure in this regard came in at RUB 909.3 billion.

Additionally, the average daily trading volume (ADTV) in this category reached RUB 38.6 billion, a 5.5% increase from July’s RUB 34.5 billion.

“Turnover in corporate, regional and sovereign bonds grew by 35.9% to RUB 985.1 billion (July 2022: RUB 725.0 billion). ADTV was RUB 42.8 billion (July 2022: RUB 34.5 billion),” MOEX explained.

Derivatives, Money and Precious Metals Markets

In the derivatives market, trading volumes dropped -23% to RUB 4.9 trillion from July’s RUB 6.4 trillion.

The ADTV in this market declined 31% to 201.9 billion. In July, the volume hit 304.4 billion.

Unlike the derivatives market, MOEX’s money market recorded gains in August. The market’s turnover increased 5.5% to RUB 52.9 trillion from RUB 50.2 trillion in July.

On the contrary, the ADTV of the money market shrank -4% to RUB 2,301.5 billion. The average reached RUB 2,389.6 billion in July.

“The CCP-cleared repo segment added 5.4% to reach RUB 25.0 trillion, including the GCC repo segment which increased 8.9% to RUB 13.2 trillion,” MOEX added.

In the precious metals markets, spot and swaps trades grew 21.3% to RUB 12.3 billion when compared to July’s RUB 10.1 billion.

Gold topped the turnover in this market, bringing in RUB 11.9 billion, followed by silver with RUB 0.4 billion.

In July, spot and swaps in gold raked in RUB 9.8 billion and silver RUB 0.3 billion in terms of trading turnover.

The forex market trading volume of the Moscow Exchange (MOEX), Russia’s largest exchange group, surged 20.4% to RUB 20.9 trillion in August.

In July, total trading volume in the market slipped away from recovery, dropping 3% to RUB 17.3 trillion.