Moscow Exchange reports solid volumes for August 2023

Moscow Exchange (MOEX), the largest exchange group in Russia, has reported notable growth in trading volumes across its markets in August 2023.

Total trading volumes in August 2023 reached RUB 127.5 trillion, marking a remarkable 56.9% increase compared to August 2022 when volumes stood at RUB 81.2 trillion.

The Derivatives Market reported impressive growth, with trading volumes reaching RUB 9.3 trillion, marking a new record since February 2022. Turnover in corporate, regional, and sovereign bonds grew by 82.5%, reaching RUB 1.8 trillion, which reflect the appeal of fixed-income instruments to Russian investors.

FX trading at MOEX also preserved its upward route in August as monthly volumes increased from a month earlier. Specifically, on-exchange currency turnover expanded by 63% to reach RUB 34.1 trillion, up from RUB 27.4 trillion ($290 billion) the previous month.

The increase in MOEX’s FX turnover is primarily caused by the uptick in FX swaps, used mostly for liquidity management and hedging of foreign currency portfolios. Spot trading volumes also showed healthy growth, increasing by 37.6% to RUB 11.5 trillion.

Moscow Exchange’s derivatives are offering lines up swaps, FX swaps, cross-currency swaps, FX forwards and options with maturities from 3 days to 5 years.

Other business highlights show that the standout performers in terms of growth were the precious metals, the bonds, and the equity markets.

The Precious Metals Market recorded an extraordinary 4.3-fold increase in turnover, reaching an all-time high of RUB 53.5 billion. Notably, trading in gold and silver saw significant increases, reflecting investor interest in precious metals.

Meanwhile, the Money Market, a critical component of MOEX’s ecosystem, experienced a 44.7% growth in turnover, reaching RUB 76.6 trillion. This segment plays a crucial role in facilitating short-term lending and liquidity management for financial institutions.

MOEX reopened trading last year following the bourse shutdown since February 2022 after the US and its Western allies unleashed a barrage of sanctions against Russia that crippled its economy and tanked the value of its national currency.