MOEX FX Volumes On A Continuous Growth Trajectory, Weak Ruble Cuts Gains

MOEX’s total FX market turnover again secured a consecutive monthly ‎growth to RUB 31.8 trillion ($507 billion).

Moscow Exchange (MOEX), Russia’s largest institutional trading venue, has just released its trading volumes for the month ending April 2018, having managed to sustain its continued momentum in light of a more volatile market trading atmosphere.

During April 2018, MOEX’s total FX market turnover again secured a consecutive monthly growth to RUB 31.8 trillion ($507 billion), jumping by 7.4 percent month-over-month from RUB 29.6 trillion ($513 billion) in March 2018. In addition‎, April 2018’s volumes at MOEX were slightly higher than its April 2017 equivalents, as the venue’s FX market turnover rose from RUB 29.9 trillion in the year prior, or 6.3 percent year-over-year.

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In dollar terms, however, the figure saw a 1.2 percent drop over last month as the ruble lost over nine percent against the buck in April as the Russian currency continues to reel from US sanctions imposed by the Trump administration.

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April 2018’s turnover included spot trades of RUB 9.0 trillion ($143 billion), or 28 percent of the total trading volume, and ‎swap trades coming in at RUB 22.8 trillion ($364 billion).

MOEX’s FX market’s average daily turnover in April 2018 was RUB 1.44 trillion ($23.9 billion), corresponding to a gain of 2.5 percent month-over-month‎ from RUB 1.411 trillion ($24.47 billion) in March 2018, but was lower 3.3 percent year-over-year from RUB 1.49 trillion (‎$26.5 billion) in April 2017.

Looking at MOEX’s derivatives market volumes during April 2018, the group also yielded a positive performance for the month. In April 2018, MOEX reported a figure of RUB 8.2 trillion for the month – this was reflective of a surge of 25 percent year-over-year from RUB 6.6 trillion a year ago.

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