Moscow Exchange Witnesses 39.1% YoY Growth in Total Trading Volume for May 2024

Moscow Exchange (MOEX), the largest exchange group in Russia, has released its key trading metrics for May 2024, registering a total trading volume of RUB 126.7 trillion (trln) for the period, 34.5% higher than RUB 94.2 trln in the year-ago month and 1.4% higher than RUB 124.9 trln in the prior month.

Trading Overview for May 2024

Equity & Bond Market

• Trading volume of the market totaled RUB 4.1 trln for the month, an increase of 28.1% compared to RUB 3.2 trln in the same period of 2023 and a decrease of 35.3% compared to RUB 4.7 trln in April of this year, hereinafter excluding overnight bonds.

• Trading volume in shares, DRs and investment fund units came in at RUB 2.5 trln for the month, increasing by 38.9% compared to RUB 1.8 trln in May 2023 and deceasing by 13.8% compared to RUB 2.9 trln in April 2024. The Average Daily Trading Volume (ADTV) was RUB 119.3 billion (bln), up 37.3% on a year-on-year basis (YoY) (May 2023: RUB 86.9 bln) and down 6.2% on a month-on-month basis (MoM) (April 2024: RUB 127.2 bln).

• Turnover in corporate, regional and sovereign bonds for the month grew by 14.3% from RUB 1.4 trln in May 2023 to RUB 1.6 trln, dropping by 11.1% compared to 1.8 trln in the previous month. ADTV was RUB 75.1 bln, up 13.8% YoY from RUB 66.0 bln in May 2023 and down 4.5% MoM from RUB 78.6 bln.

• 68 issues with a combined value of RUB 2.1 trln (of which overnight bonds accounted for RUB 1.3 trln) were placed.

Derivatives Market

• In May 2024, derivatives market trading volume amounted to RUB 7.2 trln, rising by 22.0% compared to RUB 5.9 trln in the prior year month and remaining unchanged from the prior month.

• ADTV was RUB 341.6 bln for the month, increasing by 22.5% compared to RUB 278.9 bln in May 2023 and increasing by 9.3% compared to RUB 312.4 bln in April 2024.

FX Market

• FX Market trading volume for the period reached RUb 29.3 trln, up 39.5% YoY (May 2023: RUB 21.0 trln) and up 8.9% MoM (April 2024: RUB 26.9 trln), with spot trades amounting to RUB 10.5 trln and swap trades and forwards totaling RUB 18.8 trln.

• ADTV stood at RUB 1.4 trln for the month, an increase of 40.0% compared to RUB 1.0 trln in the same period of 2023 and an increase of 16.7% compared to RUB 1.2 trln in the previous month.

Money Market

• Money Market turnover was RUB 84.7 trln for May 2024, a 34.7% growth compared to RUB 62.9 trln in May of last year and a 1.1% growth compared to RUB 83.8 trln in April of this year.

• ADTV was RUB 4.0 trln for the month, increasing by 33.3% compared to RUB 3.0 trln in May 2023 and increasing by 11.1% compared to RUB 3.6 trln in April 2024.

• The CCP-cleared repo segment reached RUB 35.6 trln, including the GCC repo segment which totaled RUB 26.5 trln.

Precious Metals Market

• Turnover in precious metals (spot and swaps) soared by 105.1% from RUB 25.5 bln in May 2023 to RUB 52.3 bln, of which RUB 48.2 bln (7.1 t) was gold and RUB 4.1 bln (34.0 t) was silver.