The Moscow Exchange (MOEX), which operates Russia’s largest public trading markets for FX, equity, bond, derivative and money market products, has released today its Q3 2013 financial results and trading volumes for the quarter.
Net profit for the Moscow Exchange decreased by 13.5% in Q3 compared to the last quarter to RUB 2.85 billion, but as the exchange wishes to highlight, net profits increased 29.8% Year-over-Year (YoY).
According to the announcement, the “strong” earnings compared to last year’s results were driven by growth across the diversified business, but particularly by the FX and money market products.
Income for MOEX from the FX Market increased by 19.2% YoY to RUB 647.1 million, while trading volumes increased 37.9% YoY to RUB 44.2 trillion, and 7.3% over the last quarter’s RUB 41.2 trillion trading volume. Spot trading volumes were down 12.4% YoY, while swap trading volumes increased significantly, growing by 97.1% YoY.
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The total trading volume across all markets during the quarter was RUB 123.9 trillion, a slight rise of 2.6% compared to Q2 total trading volume of RUB 120.8 trillion, and a considerable increase of 25.3% Year-over-Year.
Total operating income for the third quarter came out just a bit lower (0.4%) than Q2 at RUB 6.28 billion, but rose 11.2% YoY. Additionally, the EBITDA went down 12.1% compared to the last quarter to RUB 3.99 billion, but again up 8.7% YoY.
One of the key corporate highlights that MOEX detailed relevant to the FX market was that trading platforms for Equities & Bonds, FX and the Derivatives Market were centralized at a single technology venue, the new M1 data centre.