Russian Markets Hit New Record on Moscow Exchange

The Russian stock and derivatives exchange had record trading volume on 14th September as local participants welcomed the increase volatility

The Russian stock and derivatives exchange had record trading volume on 14th September as local participants welcomed the increase volatility on the back of QE3.

Leading Russian equities have been diverted to the London Stock Exchange over the last ten years, London the financial capital of the world gives Russian firms access to a developed and well-regulated market places, in addition to a wide range of investors including asset managers and pension funds.

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The Russian markets have been competing heavily and since the merger between the MICEX and RTS the market is more liquid and cost to trade has reduced.

Derivatives market

Trading volume on FORTS, the derivatives market of the Moscow Exchange, reached $16.8 billion (RUB526.7 billion) representing 11.2 million contracts showing its highest value since 2001.

Trading volume of futures contracts amounted to $15 billion (RUB 469 billion) representing 10.5 million contracts.

The FORTS money section also saw historical highs. Total trading volume of derivatives on currencies and Russian Federation Government bonds (OFZ) hit a new record of $5.2 billion (RUB163 billion) or 5.3 million contracts. Trading volume of the USD/RUB FX futures contract reached $4.6 billion representing 4.7 million contracts.

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Securities market

Trading volume of securities amounted to $5.6 billion (RUB174.3 billion) setting a new trading record for 2012. Number of trades was 715.5 thousand.

Trading members executed 710.4 thousand trades on shares for a total value of $3.3 billion (RUB104.4 billion) and 2.6 thousand trades on bonds for a total value of $2.2 billion (RUB69.3 billion).

FX market

The Moscow Exchange FX market trading volume made up $20.67 billion (RUB649.19 billion) surpassing the daily average trading volume of August-September 2012 by 50%.

The FTSE group have devised the FTSE Russia IOB index to track the largest 15 Russian firms traded in London.

The FTSE Russia IOB is trading at 905.15.

The index constituents include OAO Gazprom, Lukoil, Novatek, Tatneft, VTB bank and Evraz Group. Most of the firms are involved in commodities with the bulk trading in the oil and gas sector.

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