MOEX FX Volumes Rebound in February, But Lags YoY

Moscow Exchange (MOEX) has released its trading volumes for the month ending February 2019 – the exchange’s total FX volume was up on a monthly basis, but a weaker ADV figure ultimately shows a notable drop from last year’s figures.

During February 2019, MOEX’s total FX market turnover secured its first monthly growth to RUB 25.3 trillion ($385 billion), jumping by 10 percent month-over-month from RUB 23.0 trillion ($350 billion) in January 2019. However, the latest reading corroborates a mild drop in volumes at the exchange on a year-over-year basis, as the figure failed to secure a consecutive yearly growth in US dollar terms, falling by 10 percent from RUB 28.3 trillion in February 2018.

February 2019’s turnover included spot trades of RUB 5.1 trillion ($77 billion), or 21 percent of the total trading volume, and ‎swap trades coming in at RUB 20.2 trillion ($307 billion).

MOEX’s FX market’s average daily turnover in February 2019 was RUB 1.26 trillion ($19.2 billion), corresponding to a gain of 10.5 percent month-over-month‎ from RUB 1.14 trillion ($17.4 billion) in January 2019, but was also lower by 15.1 percent year-over-year from RUB 1.49 trillion in February 2018.

Derivatives market lags

Looking at MOEX’s derivatives market volumes during February 2019, the group yielded a weak performance for the month. In February 2019, MOEX reported a figure of RUB 6.1 trillion for the month – this was reflective of a drop of 16 percent year-over-year from RUB 7.4 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 Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, transparency and historical foundation.

In recent years, MOEX’s FX market has developed from a limited segment within the Russian interbank market to a global Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term 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.