The Moscow Exchange (MOEX) has announced its financial results for the year ending December 31 2013, with robust increases seen in trading volumes (22% YoY) and revenue (14% YoY), via a Moscow Exchange statement.
Overall, the results seem to echo recent headlines that the Moscow Exchange was experiencing a strong year in trading, helped in large part by its rising FX offering and increased volatility across markets. In particular, total trading volume across all markets in 2013 jumped 22% YoY to $133.65 billion (RUB 449.4 trillion). Revenues also experienced a climb to $671.9 million (RUB 24.61 billion) in 2013, from $588.11 million (RUB 21.54 billion), or a 14% YoY increase.
2013 A Year To Remember
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The 2013-year was filled with a variety of events for the Moscow Exchange, including the successful completion of an IPO that successfully raised $409.55 million (RUB 15 billion). In addition, the exchange launched precious metals trading and began central clearing OTC derivatives. Finally, FX instruments were offered in a consolidated format, with access to the highest end technology for user functionality.
According to Alexander Afanasiev, Chief Executive Officer of the Moscow Exchange in a statement on the 2013 financial results, “The past year was a remarkable one for Moscow Exchange and for the development of the Russian financial market. We completed our IPO in the beginning of 2013, showcasing the fact that high quality Russian issuers can raise significant capital in local shares on Moscow Exchange. Market infrastructure reforms yielded very positive results for Moscow Exchange: we grew volumes and delivered very strong financial results in 2013.”
Looking Ahead To 2014
Moreover, “Looking beyond the end of the reporting period at the start of 2014 we have seen high volatility on the Russian market, with stock indexes declining. At the same time, our trading volumes across most of our markets – equities, FX, money market, and derivatives – have posted significant growth during the first months of the New Year. In 2014 we will continue to focus on attracting more flows by making our platform even more convenient to trade on, and by attracting new issuers. We also continue to promote high corporate governance standards, and aim to set the benchmark for all Russian companies in this area,” added Afanasiev.