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.

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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.

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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.


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