Moscow Exchange (MOEX), Russia’s largest institutional trading venue, has just released its trading volumes for the month ending July 2018, having managed to sustain its continued momentum for a second consecutive month.
During July 2018, MOEX’s total FX market turnover again secured another monthly growth to RUB 32.5 trillion ($513 billion), jumping by 15 percent month-over-month from RUB 28.3 trillion in June 2018. In addition, July 2018’s volumes at MOEX were higher than its July 2017 equivalents, as the venue’s FX market turnover rose from RUB 26.8 trillion in the year prior, or 21 percent year-over-year.
July 2018’s turnover included spot trades of RUB 7.1 trillion ($112 billion), or 22 percent of the total trading volume, and swap trades coming in at RUB 25.4 trillion ($400 billion).
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MOEX’s FX market’s average daily turnover in July 2018 was RUB 1.48 trillion ($23.3 billion), corresponding to a gain of 9.5 percent month-over-month from RUB 1.34 trillion in June 2018, and was also higher by 15.8 percent year-over-year from RUB 1.27 trillion in July 2017.
Derivatives market lags
Looking at MOEX’s derivatives market volumes during July 2018, the group yielded a weak performance for the month. In July 2018, MOEX reported a figure of RUB 6.1 trillion for the month – this was reflective of a drop of 14 percent year-over-year from RUB 7.1 trillion a year ago.
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.