FX Volumes up over 15% During July at the Moscow Exchange

The Moscow Exchange (MOEX) released its July trading volumes today showing a strong increase in overall numbers compared to the previous month. The total of the Moscow Exchange's turnover was RUB 44.2 trillion in July 2014, up by 19% from June’s figure of RUB 37.15 trillion. On a yearly comparison the turnover seems to remain almost flat in line with July 2013's volume of RUB 43.9 trillion.

MOEX’s FX market turnover in July 2014 was RUB 20.2 trillion, an increase of 15.4% from the previous month and up 37% from the July 2013 figure of RUB 14.7 trillion. The July FX market turnover includes spot trades of RUB 5.5 trillion and swap trades of RUB 14.7 trillion, up 13% and 17% month-over-month respectively. The FX market’s average daily turnover (ADV) was RUB 0.878 trillion, or US $25.3 billion in July.

According to the Russian venue, records were seen in open interest for currency instruments on the derivatives market, turnover in long-term Swaps and Chinese yuan for roubles trading on the FX market, and repo with the CCP on the money market. The exchange reported the CNY/RUB volume record separately yesterday.