Moscow Exchange Sees 18% YoY Rise in Operating Income in Q3

Moscow Exchange (MOEX) has posted it financial results for the third quarter of 2021, showing a significant year-over-year rise in operating income.

MOEX's operating income was up 18.2 percent in Q3 2021 compared to the same period of 2020. The fee and commission (F&C) income of MOEX grew by 25.1 percent to reach an all-time high of RUB 10.4 bln. F&C income accounted for 78 percent of the operating income. The exchange’s adjusted net profit rose to RUB 6.7 billion, which was up by 19.4 percent compared to Q3 2020.

Yury Denisov, Chief Executive Officer of Moscow Exchange, said: "MOEX has delivered fee and commission income growth significantly ahead of our strategic targets. Key drivers of this growth include the roll-out of new products and instruments, the expansion of trading hours, and the inflow of new clients. The number of individual investors with accounts on MOEX has now reached 15 million.

"Before the end of the year, we plan to increase the number of global stocks available on our platform to 500 names and to launch a morning trading session for the equity market."

Fazzaco recently reported that MOEX has completed the acquisition of a 65.5% stake in BierbaumPro AG​ which is 100% owner of NT Progress, the developer and owner of OTC FX trading platform NTPro. The transaction raised MOEX's ownership in BierbaumPro AG from 29.5% to 95%.