Moscow Exchange Posts 27.5% Jump in FX Trading Volume During March 2023

Moscow Exchange, the largest exchange group in Russia, has released key trading metrics for March 2023, reporting a monthly jump in foreign exchange (forex) trading volumes.

In March 2023, total trading volume across Moscow Exchange’s markets made up 26.3% to reach RUB 105.6 trillion (RUB 83.6 trillion in February 2023).

All MOEX markets reported rising trading volumes: Equity Market (up 37.7%), Derivatives Market (up 36.5%), FX Market (up 27.5%), Money Market (up 24.6%), Bond Market (up 20.9%) and Precious Metals Market (up 64.5%).

Equity & Bond Market

Total trading volume on the Equity & Bond Market in March was RUB 3,186.0 billion (February 2023: RUB 2,487.9 billion) hereinafter excluding overnight bonds.

Trading volume in shares, DRs and investment fund units rose by 37.7% to reach RUB 1,457.7 billion (February 2023: RUB 1,058.6 billion). ADTV was RUB 66.3 billion (February 2023: RUB 55.7 billion).

Turnover in corporate, regional and sovereign bonds grew by 20.9% to RUB 1,728.3 billion (February 2023: RUB 1,429.3 billion). ADTV was RUB 78.6 billion (February 2023: RUB 75.2 billion).

71 new bond issues with a combined value of RUB 1,666.7 billion (of which overnight bonds accounted for RUB 957.6 billion) were placed in March 2023.

Derivatives Market

Turnover in Derivatives Market grew by 36.5% to RUB 5.9 trillion (February 2023: RUB 4.3 trillion). ADTV was RUB 269.5 billion (February 2023: RUB 228.7 billion).

FX Market

FX Market turnover increased by 27.5% to RUB 24.7 trillion (February 2023: RUB 19.4 trillion). Spot trading volumes grew by 21.9% and reached RUB 8.4 trillion, and swap trades and forwards volumes were RUB 16.3 trillion.

ADTV on the FX Market was RUB 1,121.7 billion (February 2023: RUB 1,019.0 billion).

Money Market

Money Market turnover rose by 24.6% up to 70.8 trillion (February 2023: RUB 56.8 trillion). ADTV was RUB 3,217.2 billion (February 2023: RUB 2,990.7 billion).

The CCP-cleared repo segment reached RUB 27.4 trillion (up 43.8%), with the GCC repo segment volume of RUB 15.4. trillion (up 41.8%).

Precious Metals Market

Turnover in precious metals (spot and swaps) made up 64.5% to RUB 21.2 billion (February 2023: RUB 12.9 billion), of which RUB 20.1 billion (4.2 t) was gold and RUB 1.2 billion (15.7 t) was silver.