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

MOEX’s FX market’s average daily turnover in August 2018 was RUB 1.36 trillion ($20.0 billion).

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

During August 2018, MOEX’s total FX market turnover was reported at RUB 31.4 trillion ($461 billion), falling by 3.4 percent month-over-month from RUB 32.5 trillion ($513 billion) in July 2018.‎ However, the latest reading corroborates an 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 3.2 percent from RUB 30.4 trillion billion in August 2017.

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MOEX’s total FX turnover in August 2018‎ featured spot trades of RUB 9 trillion, surging by over 40 percent, while swap trades and forwards together came in at RUB 22.3 trillion.

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MOEX’s FX market’s average daily turnover in August 2018 was RUB 1.36 trillion ($20.0 billion), corresponding to a drop of 8.1 percent MoM from RUB 1.48 trillion ($23.3 billion) in July 2018, but was 3 percent higher year-over-year from RUB 1.32 trillion in August 2017.

Looking at MOEX’s derivatives market volumes during August 2018, the group also yielded a strong performance for the month. In August 2018, MOEX reported a figure of RUB 8.4 trillion for the month – this was reflective of a soild gain of 37 percent month-over-month from RUB 6.1 trillion July 2018‎.

Moscow Exchange (MOEX) is the largest exchange group in Russia and Eastern Europe by trading volumes and number of clients. The MOEX currency family offers benchmarks for a number of currency pairs mainly thanks to its high liquidity, transparency and historic foundation.

In recent years, MOEX’s FX market has developed from a limited segment within the Russian interbank market to a global trading platform for ruble operations. The bourse said that its new service is in demand from international clients and it also helps to promote the MOEX FX market.

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