Moscow Exchange (MOEX) has published the trading metrics on the platform for June 2022, reporting a significant dip. The total trading volume across markets came in at RUB 73.5 trillion, which is down 6 percent from the previous month and almost 10 percent from the same month in the previous year.
Demand for forex instruments recovered month-over-month as the total trading volume came in at RUB 17.8 trillion, compared to May’s RUB 16.1 trillion. In June 2021, the total forex trading volume was at RUB 26.8 trillion.
Out of the total, forex spot instruments accounted for RUB 7.5 trillion in trading volume, whereas RUB 10.3 trillion worth of forex swaps and forwards were traded last month. Both these figures dropped from the levels of the previous month.
Recovering Equities Demand
The equities and bond markets witnessed a significant monthly recovery in trading demand. The total trading volume in these markets stood at RUB 15 trillion, which is up from the previous month’s RUB 995.4 billion. However, it still remains lower than the previous year’s RUB 3.8 trillion.
Trading volume in shares, DRs and investment fund units saw a monthly recovery to RUB 909.3 billion from RUB 596.9 billion, but it remains almost 60 lower year-over-year.
It is to be noted that the ongoing Russia-Ukraine war has heavily impacted the Russian domestic trading market. Moscow Exchange was shut for almost a month during the initial days of the war to shed the impact of the conflict on the trading markets. However, trading demand, especially in the equities market, still remains significantly lower than the pre-war levels due to international sanctions and restrictions.
Coming to the derivatives market, there was a marginal drop in monthly trading demand. It came in at RUB 5.3 trillion, compared to May’s RUB 5.6 trillion. However, the figure is significantly lower than June 2021’s RUB 11.4 trillion.
The turnover in the precious metal markets came in at RUB 8.7 billion, strengthening from the previous month’s RUB 4.1 billion but lower than the previous year’s RUB 27.7 billion. Furthermore, the demand in the money market grew by 23.3 percent to RUB 48.4 trillion on a year-over-year basis.
