Forex Boosts Moscow Exchange October Volumes

The Moscow Exchange (MOEX) reported a 41.3 per cent annual increase in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading volumes in October, to a total 30.7 trillion rubles ($490 bln). Of this, the bulk came from swap trades, 20 trillion, and the rest from spot trades, 10.7 trillion roubles.

A monthly decline

On a monthly basis, the overall Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term volumes marked a decline of 3.9 trillion rubles. In terms of types of trades, swaps accounted for the bulk, again, at 24 trillion rubles, and the rest, 10.5 trillion rubles, came from spot trades.

The average daily volume stood at 1.395 trillion rubles, up from 944.4 billion rubles in October 2014. The average daily volumes for September were 1.571 trillion rubles, up 4.1 per cent on August.

Derivatives volumes swell 62%

The main contributor to overall trading volumes, however, was the derivatives business, which grew by 61.8 per cent on the year, to reach 10.1 trillion rubles, in 173.6 million contracts, versus 142.8 million contracts in October 2014. Of these, the bulk, or 168.2 million were futures contracts and 5.4 million were options. The open interest at the end of October totaled 551.2 billion rubles, down from 764.7 billion in October 2014.

In September, the derivatives trade turnover on MOEX totaled 10.7 trillion rubles, so the October figure represented a slight monthly decline. Yet it’s worth noting that the September derivatives trade volumes were exceptionally high, marking an annual increase of 101.9 percent.