MOEX FX Volumes Sink in January, Failing to Secure Consecutive MoM Rise

Moscow Exchange saw uneven FX metrics in January 2016, despite managing to top its 2015 turnover equivalent by triple digits.

The Moscow Exchange (MOEX) has reported its trading volumes for the January 2015, which saw a pullback in its foreign exchange (FX) market turnover, essentially paring last month’s gains, according to a MOEX statement.

In January 2016, the total FX market turnover at MOEX retreated to RUB 27.7 trillion, falling -10.4% MoM from RUB 30.9 trillion in December 2015 – this includes spot trades of RUB 12.0 trillion and swap trades coming in at RUB 15.7 trillion in January 2016, each lower MoM than their December 2015 counterparts.

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When weighed against its 2015 equivalent however, MOEX did manage to secure solid growth across its FX volumes, with January 2016 constituting a jump of 93.7% YoY from RUB 14.3 trillion in January 2015.

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In addition, MOEX’s FX market’s average daily turnover in January 2016 was $19.7 billion (RUB 1,541.4 billion), risen 9.6% MoM from $17.7 billion (RUB 1,406.2 billion) in December 2015. Compared with last year however, January 2016’s FX market turnover surged 107.4% YoY from $9.5 billion (RUB 750.5 billion) in January 2015.

Finally, MOEX’s derivatives market volumes did orchestrate a healthy gain in January 2016, disclosing a figure of RUB 10.6 trillion for the month – this correlated to a rise of 7.1% MoM from RUB 9.9 trillion in December 2015. January 2016’s turnover is also higher than the same period in 2015, having registered a robust climb of 158.5% YoY from just RUB 4.1 trillion in January 2015.


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