MOEX’s FX Turnover Plunges to 2016 Low

After three straight months of rising turnover, MOEX's FX volumes declined to a 2016 low.

The Moscow Exchange (MOEX) has reported its trading volumes for the month ending April 2016, which saw its foreign exchange (FX) market turnover fall to a 2016 low, erasing three months of growth this year, according to a MOEX statement.

The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

In April 2016, total FX market turnover at MOEX plunged to RUB 27.3 trillion, falling -11.4% MoM from RUB 30.8 trillion in March 2016 – this figure included spot trades of RUB 9.9 trillion and swap trades coming in at RUB 17.5 trillion in April 2016, each lower MoM than their March 2016 counterparts.

Suggested articles

Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>

The latest figures were much more upbeat when measured against April 2015 equivalent however, as MOEX’s April 2016 FX market turnover managed to see a 6.2% YoY growth from RUB 25.7 trillion in April 2015.

In addition, MOEX’s FX market’s average daily turnover in February 2016 was $19.9 billion (RUB 1,302.3 billion), falling -7.0% MoM from $21.3 billion (RUB 1,400.0 billion) in March 2016. Compared with last year however, April 2016’s FX market turnover did move notably higher by a factor of 11.6% YoY from $17.8 billion (RUB 1,166.8 billion) in April 2015.

Finally, MOEX’s derivatives market volumes also weakened in April 2016, reporting a figure of RUB 10.6 trillion for the month – this yielded a fall of -7.0% MoM from RUB 11.4 trillion in March 2016. April 2016’s turnover was however much higher than the same period in 2015, having notched a growth of 68.3% YoY from just RUB 6.3 trillion in April 2015.

MOEX

Got a news tip? Let Us Know