Moscow Exchange Saw 30.3% Jump in FX Trading Volumes in Q1 2022

Russia's largest exchange group, MOEX released its financial results for Q1 of 2022. The exchange reported 15.1% increase in its Fee and Commission (F&C) income to RUB 10,647 million.

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Growth of F&C income was driven by robust trading volumes in January and February 2022. In Q2 2022, MOEX expects a meaningful decline in trading volumes that may persist in subsequent quarters.

The EBITDA of the exchange, between January and March 2022, came in at RUB 11,052 million, up 17.8% compared to the same period in the last year. In the quarter, the exchange's net profit grew by 18.5% to RUB 8,099.4 million. The jump in profit resulted from increased activities across almost all financial markets and services offered by the Russian exchange.

The quarterly trading volume on the foreign exchange market, in particular, jumped by 30.3% year-over-year to RUB 102,544.8 billion. Fee income from the FX Market was up 36.6% following the increase in trading volumes.

The total market capitalization of the Equities Market as of the end of the first quarter was RUB 47.30 trln (USD 578.63 bln). Fee and commission income from the Equities Market grew by 22.4% on the back of an increase in trading volumes of 29.9%. Fees and commissions from the Bond Market decreased by 43.6% as trading volumes excluding overnight bonds shrank by 50.6%.