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November FX Trading Volumes on Moscow Exchange Shed 14%

by Victor Golovtchenko
  • Volumes on the MOEX FX market still marked a 52% increase over last year, while FX futures rose 370% YoY, however the recent ruble turmoil has not resulted in a new monthly record in November despite record volatility.
November FX Trading Volumes on Moscow Exchange Shed 14%
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Volumes on the MOEX Forex market still marked a 52% increase over last year. However, the recent ruble turmoil has not resulted in a new monthly record in November despite rapidly falling oil prices.

With the Russian ruble hitting fresh all-time lows and marking a new record today, dropping by 7.5% against the US dollar at the start of the Russian trading session, trading volumes in the Moscow Exchange have been announced to drop 14% when compared to October.

The total volumes on the MOEX forex market totalled RUB 18.7 trillion ($362 billion), from which 6.9 trillion ($133 billion) changed hands on the spot market, while 11.8 trillion ($228 billion) were transacted in Swaps . The average daily volume totalled RUB 986.6 billion ($19.1 billion) with the decline partially attributed to the lower number of trading days in November.

Moscow Exchange FX Volumes November

Moscow Exchange FX Volumes November

The derivatives market turnover increased 121% year-on-year to RUB 7.7 trillion ($149 billion) or 162.8 million contracts, of which RUB 6.6 trillion ($127 billion) were futures and RUB 1.1 trillion were options. The main drivers were FX futures, which rose 370% year-over-year in November to RUB 5.5 trillion ($106 billion). The FX options trading volume reached RUB 815 billion (November 2013: RUB 9 billion).

moex_logo

Volumes on the MOEX Forex market still marked a 52% increase over last year. However, the recent ruble turmoil has not resulted in a new monthly record in November despite rapidly falling oil prices.

With the Russian ruble hitting fresh all-time lows and marking a new record today, dropping by 7.5% against the US dollar at the start of the Russian trading session, trading volumes in the Moscow Exchange have been announced to drop 14% when compared to October.

The total volumes on the MOEX forex market totalled RUB 18.7 trillion ($362 billion), from which 6.9 trillion ($133 billion) changed hands on the spot market, while 11.8 trillion ($228 billion) were transacted in Swaps . The average daily volume totalled RUB 986.6 billion ($19.1 billion) with the decline partially attributed to the lower number of trading days in November.

Moscow Exchange FX Volumes November

Moscow Exchange FX Volumes November

The derivatives market turnover increased 121% year-on-year to RUB 7.7 trillion ($149 billion) or 162.8 million contracts, of which RUB 6.6 trillion ($127 billion) were futures and RUB 1.1 trillion were options. The main drivers were FX futures, which rose 370% year-over-year in November to RUB 5.5 trillion ($106 billion). The FX options trading volume reached RUB 815 billion (November 2013: RUB 9 billion).

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