MoEx Reports Solid Financial Performance Figures for Q3 2014
by
George Tchetvertakov
Moscow Exchange reports stellar improvements in financial performance driven by an up tick in trading activity over the past few months. Impressively, the venue was able to mitigate the geo-political effects of a weaker RUB and weak investor sentiment.
Moscow Exchange (MoEx) has announced its financial results for Q3 2014. Total operating income rose 16.3% YoY to RUB 7.31 bln (~$156 million). Net profit increased 42.4% YoY to RUB 4.06 billion (~$85 million); earnings per share (EPS) increased 41.1% YoY to RUB 1.82.
Other notable highlights from MoEx's report include the euro becoming eligible as collateral on Moscow Exchange's Derivatives market from October 13. The list of assets eligible as collateral previously included the RUB and USD, as well as stocks and bonds.
Alongside the publication of results, MoEx Chief Executive Officer (CEO), Alexander Afanasiev said:"We are happy to report a second consecutive quarter of record net profit and operating income, demonstrating both the resilience of our business model to the challenging economic and market conditions, as well as our effective cost management."
In a bid to woo international investors and trader participation, Russia's largest Stock Exchange says it is "continuing to upgrade Russia's market infrastructure and to developing the Group's product offering." The trading venue is intent on consolidating its position in the domestic market and expand via foreign participation. The venue did however raise margin requirements earlier this month.
Mr. Afanasiev added, "We continue to benefit from our diversified and vertically-integrated business model. New products on our FX and money markets, as well as post-trade services, which were recently introduced, contributed to our impressive results in the third quarter. Our latest innovation was to establish a link to International Securities Depositories, aimed at bringing the Russian financial markets in line with best international practice."
As part of MoEx's strategy to internationalise, the trading venue is looking towards China and the expanding RMB market that is gradually being readied for full liberalisation at some stage over the next decade. MoEx cites its cooperation agreement with the Bank of China as part of the company's strategy to expand its activity in CNY/RUB trading.
Moscow Exchange (MoEx) has announced its financial results for Q3 2014. Total operating income rose 16.3% YoY to RUB 7.31 bln (~$156 million). Net profit increased 42.4% YoY to RUB 4.06 billion (~$85 million); earnings per share (EPS) increased 41.1% YoY to RUB 1.82.
Other notable highlights from MoEx's report include the euro becoming eligible as collateral on Moscow Exchange's Derivatives market from October 13. The list of assets eligible as collateral previously included the RUB and USD, as well as stocks and bonds.
Alongside the publication of results, MoEx Chief Executive Officer (CEO), Alexander Afanasiev said:"We are happy to report a second consecutive quarter of record net profit and operating income, demonstrating both the resilience of our business model to the challenging economic and market conditions, as well as our effective cost management."
In a bid to woo international investors and trader participation, Russia's largest Stock Exchange says it is "continuing to upgrade Russia's market infrastructure and to developing the Group's product offering." The trading venue is intent on consolidating its position in the domestic market and expand via foreign participation. The venue did however raise margin requirements earlier this month.
Mr. Afanasiev added, "We continue to benefit from our diversified and vertically-integrated business model. New products on our FX and money markets, as well as post-trade services, which were recently introduced, contributed to our impressive results in the third quarter. Our latest innovation was to establish a link to International Securities Depositories, aimed at bringing the Russian financial markets in line with best international practice."
As part of MoEx's strategy to internationalise, the trading venue is looking towards China and the expanding RMB market that is gradually being readied for full liberalisation at some stage over the next decade. MoEx cites its cooperation agreement with the Bank of China as part of the company's strategy to expand its activity in CNY/RUB trading.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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