MOEX’s FX Turnover Snaps December’s Positive Momentum, but Secures ‎Growth YoY

MOEX’s total FX market turnover fell by 15.3 percent month-over-month.

Moscow Exchange (MOEX), Russia’s largest institutional trading venue, has just released its trading volumes for the month ending January 2018, having failed to sustain the strong momentum seen last month in light of a less volatile market trading atmosphere.

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During January 2018, MOEX’s total FX market turnover was reported at RUB 25.3 trillion ($445 billion), falling by 15.3 percent month-over-month from RUB 29.9 trillion ($524 billion) in December 2017.‎ However, the latest reading corroborates a strong uptick in volumes at the exchange on a year-over-year basis, as the figure secured a consecutive yearly growth in US dollar terms, jumping by 11.5 percent from $401.0 billion in January 2017.

MOEX’s total FX turnover in January 2018‎ featured spot trades of RUB 5.2 trillion, or 19 percent of the total trading volume, while swap trades and forwards together came in at RUB 20.1 trillion, each lower month-on-month than the equivalent figures for December.

MOEX’s FX market’s average daily turnover in January 2018 was RUB 1.26 trillion ($22.2 billion), corresponding to a drop of 10.6 percent MoM from 1.41 trillion ($24.9 billion) in December 2017‎, but was 11.5 percent higher year-over-year from RUB 1.13 trillion in January 2017.

Looking at MOEX’s derivatives market volumes during January 2018, the group also yielded a weak performance for the month. In January 2018, MOEX reported a figure of RUB 5.4 trillion for the month – this was reflective of a drop of 10 percent month-over-month from RUB 6.0 trillion in December 2017‎.

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