Moscow Exchange FX Market Trading Volume Soars 137.2% YoY in November 2023

Moscow Exchange (MOEX), the largest exchange group in Russia, has released its key trading metrics for November 2023, reporting total trading volumes across its markets of RUB 126.1 trillion (trln), a significant increase of 68.6% compared to RUB 74.8 trln in November 2022.

Unless stated otherwise, all figures below refer to performance for August 2023 and all comparisons are with the same period last year.

Equity & Bond Market

• Total trading volume on the Equity and Bond Market in November 2023 was RUB 4,683.8 bln, 47.8% higher than RUB 3,169.5 bln in November 2022, hereinafter excluding overnight bonds.

• Trading volume in shares, DRs and investment fund units was RUB 2,130.9 bln, jumping 148.1% from RUB 859.0 bln in November 2022. ADTV was RUB 96.9 bln, increasing by 136.9% compared to RUB 40.9 bln in the year-ago month.

• Turnover in corporate, regional and sovereign bonds was RUB 2,553.0 bln, an increase of 10.5% compared to RUB 2,310.5 bln in the same month of 2022. ADTV was RUB 116.0 bln, up 5.5% on a year-on-year basis (November 2022: RUB 110.0 bln).

• 82 issues with a combined value of RUB 3,205.3 bln (of which overnight bonds accounted for RUB 2,294.1 bln) were placed in November 2023.

Derivatives Market

• Derivatives Market trading volume was RUB 7.4 trln, 1.39 times more than RUB 3.1 trln in November of last year. 

• ADTV was RUB 338.4 bln, 1.33 times more than that of November 2022 (November 2022: RUB 145.3 bln).

FX Market

• FX Market trading volume rose by 137.2% from RUB 14.8 trln in November 2022 to RUB 35.1 trln for the month. Spot trading volumes were RUB 9.9 trln, and swap trades and forwards were RUB 25.2 trln.

• ADTV was RUB 1,595.3 bln, increasing 126.4% compared to RUB 704.6 bln in the same period of last year.

Money Market

• Money Market turnover was RUB 76.5 trln, up 46.0% YoY (November 2022: RUB 52.4 trln). ADTV was RUB 3,479.2 bln, 39.6% higher than RUB 2,492.9 bln in November 2022.

• The CCP-cleared repo segment was RUB 38.5 trln, including the GCC repo segment reached RUB 22.9 trln.

Precious Metals Market

• Turnover in precious metals (spot and swaps) was RUB 50.9 bln, 3.74 times as much as that of November 2022 (November 2022: RUB 13.6 bln), of which RUB 50.1 bln (8.9 t) was gold and RUB 0.8 bln (11.7 t) was silver.