Russian FX Volumes Drop 14% in July MoM, Increases 27% YoY
by
Adil Siddiqui
Russia’s main financial trading venue reported trading metrics for the month of July. Total value across asset classes including, securities, derivatives, FX and Money Markets saw a 21% increase from a year earlier.
Russia’s, Moscow Exchange MICEX RTS, the largest exchange in Russia and Eastern Europe recorded positive trading volumes for the month of July against figures from 2012 in the same month. The value traded across all asset classes totalled RUB 43,978 billion, (US $1,334 billion) a 21% increase over the same period in 2012.
Moscow has been gradually developing its position as a regional financial epicentre, since the merger between the country’s equities and derivatives exchange the region has benefited from a diverse range of financial products. Trading in the Russian rouble has been bolstered by interest in energy trading and the nation’s central bank’s liberal policies, thus attracting more participants to trade the EM currency.
Founder of R5, Jon Vollemaere, an emerging market focused firm shared his thoughts on the growth of trading in the rouble, he said in a statement to Forex Magnates: “Rouble goes from strength to strength. What's noticeable is how much of the traded volume now comes from non-traditional members and outside Russia. A direct result of the changes Moscow exchange has put in place over the last year."
Average daily trading volume at the Moscow exchange in currencies reached $19.4 billion, a decrease of 14% from a month earlier where the exchange hit a record of $22.6 billion ADV.
“The RUB continues to grow in importance and Liquidity as an emerging market currency," Tim Bevan. Head of International Sales DMA and Prime Brokerage at BCS a Russian financial services firm based in London in a comment to Forex Magnates.
Trading metrics for July 2013:
Securities market
July’s trading value in stocks, Russian Depositary Receipts (RDRs) and investment fund units totalled RUB 686 bn (July 2012: RUB 824 bn).
Total trading in corporate and government bonds (OFZs) amounted to RUB 1,046 bn (July 2012: RUB 1,014 bn). Corporate bonds posted the largest trading value growth, at 13% YoY.
In July a total of 26 bond issues for a combined value of RUB 194 bn were placed on the Exchange’s Securities market.
Derivatives market
In July derivatives trading totaled RUB 3,941 bn (July 2012: RUB 4,337 bn). The average daily value traded in futures and options was RUB 171 bn.
Total value traded in options was RUB 316 bn (July 2012: RUB 284 bn).
FX market
July’s total value traded on the FX market was RUB 14,717 bn {$19.4 billion (July 2012: RUB 10,657 bn $14 billion) including spot trades of RUB 5,302 bn (36% of total) and swap trades of RUB 9,415 bn (64%).
The July average daily value traded on the FX market was RUB 639 bn.
Money market
In July the total value of repo trades with the Central Counterparty was RUB 256 bn. This service, which allows market participants to trade without bilateral limits, was introduced on February 5, 2013.
In July the total value of bilateral inter-dealer repo trades was RUB 22,218 bn (July 2012: RUB 18,627 bn). Average daily value amounted to RUB 966 bn.
New pairs RUB/CNY
Among the BRIC nations, China and Russia established cross currency transactions in 2010. The initiative has been welcomed by corporates and banks from both countries, the China Foreign Exchange Trade System said in a statement on their website that “(the new offering will help) facilitate bilateral trade between China and Russia and help develop Yuan trade settlements.”
Mr Vollemaere concluded: "The other thing to watch is emergence of tthe RUB / CNY pair. Location based trading aside - it's an attractive pair to trade."
Russia’s, Moscow Exchange MICEX RTS, the largest exchange in Russia and Eastern Europe recorded positive trading volumes for the month of July against figures from 2012 in the same month. The value traded across all asset classes totalled RUB 43,978 billion, (US $1,334 billion) a 21% increase over the same period in 2012.
Moscow has been gradually developing its position as a regional financial epicentre, since the merger between the country’s equities and derivatives exchange the region has benefited from a diverse range of financial products. Trading in the Russian rouble has been bolstered by interest in energy trading and the nation’s central bank’s liberal policies, thus attracting more participants to trade the EM currency.
Founder of R5, Jon Vollemaere, an emerging market focused firm shared his thoughts on the growth of trading in the rouble, he said in a statement to Forex Magnates: “Rouble goes from strength to strength. What's noticeable is how much of the traded volume now comes from non-traditional members and outside Russia. A direct result of the changes Moscow exchange has put in place over the last year."
Average daily trading volume at the Moscow exchange in currencies reached $19.4 billion, a decrease of 14% from a month earlier where the exchange hit a record of $22.6 billion ADV.
“The RUB continues to grow in importance and Liquidity as an emerging market currency," Tim Bevan. Head of International Sales DMA and Prime Brokerage at BCS a Russian financial services firm based in London in a comment to Forex Magnates.
Trading metrics for July 2013:
Securities market
July’s trading value in stocks, Russian Depositary Receipts (RDRs) and investment fund units totalled RUB 686 bn (July 2012: RUB 824 bn).
Total trading in corporate and government bonds (OFZs) amounted to RUB 1,046 bn (July 2012: RUB 1,014 bn). Corporate bonds posted the largest trading value growth, at 13% YoY.
In July a total of 26 bond issues for a combined value of RUB 194 bn were placed on the Exchange’s Securities market.
Derivatives market
In July derivatives trading totaled RUB 3,941 bn (July 2012: RUB 4,337 bn). The average daily value traded in futures and options was RUB 171 bn.
Total value traded in options was RUB 316 bn (July 2012: RUB 284 bn).
FX market
July’s total value traded on the FX market was RUB 14,717 bn {$19.4 billion (July 2012: RUB 10,657 bn $14 billion) including spot trades of RUB 5,302 bn (36% of total) and swap trades of RUB 9,415 bn (64%).
The July average daily value traded on the FX market was RUB 639 bn.
Money market
In July the total value of repo trades with the Central Counterparty was RUB 256 bn. This service, which allows market participants to trade without bilateral limits, was introduced on February 5, 2013.
In July the total value of bilateral inter-dealer repo trades was RUB 22,218 bn (July 2012: RUB 18,627 bn). Average daily value amounted to RUB 966 bn.
New pairs RUB/CNY
Among the BRIC nations, China and Russia established cross currency transactions in 2010. The initiative has been welcomed by corporates and banks from both countries, the China Foreign Exchange Trade System said in a statement on their website that “(the new offering will help) facilitate bilateral trade between China and Russia and help develop Yuan trade settlements.”
Mr Vollemaere concluded: "The other thing to watch is emergence of tthe RUB / CNY pair. Location based trading aside - it's an attractive pair to trade."
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔