Moscow Exchange Posts Strong Financial Results for Q2 2024

​Moscow Exchange (MOEX) has released its financial results for the second quarter of 2024 today, reflecting substantial growth and robust performance across its various segments.

For Q2 2024, MOEX reported a striking 76.1% increase in operating income, reaching RUB 36.81 billion compared to RUB 20.90 billion in the same period last year. This growth was underpinned by a 137% surge in net interest income (NII), which climbed to RUB 21.23 billion.

Fee and commission income also saw a notable rise of 30.2%, totaling RUB 15.54 billion. The adjusted net profit for the quarter stood at RUB 19.61 billion, marking a significant 63.3% year-over-year increase.

The exchange's growth was complemented by several key business and corporate developments. MOEX welcomed four non-resource companies to its trading platform through IPOs and direct listings, raising a combined total of RUB 18.3 billion.

Additionally, the exchange facilitated two secondary public offerings (SPOs) worth RUB 19.7 billion. In the derivatives market, MOEX expanded its range with new cash-settled futures contracts on popular ETFs and shares, as well as deliverable futures on five Russian companies.

The second quarter also saw significant activity in the financial markets. Trading volumes in the Equities Market grew by 45%, while the Bond Market experienced a 26.8% increase in trading volumes, driven by heightened primary market activity. The Money Market saw a 34.6% rise in trading volumes, and the Derivatives Market reported a 30.7% increase in trading volumes, with a notable boost in commodity and interest rate derivative contracts.

MOEX continued to enhance its services and offerings. The exchange added four new ETFs and an open-end fund to its trading platform. It also introduced a futures contract on the MOEX IPO Index (MIPO) and eight cash-settled premium options on Russian equities. Furthermore, MOEX launched the IR Workshop, a training program for investor relations professionals, reflecting its commitment to advancing market education.

MOEX's total cash position at the end of Q2 2024 stood at RUB 122.75 billion, with no debt reported. Capital expenditures for the quarter amounted to RUB 2.06 billion, focusing on software and equipment purchases and development.