MOEX FX Volumes Slide in August as Summer Calm Deter Traders

Average daily FX trading volumes dropped by more than ten percent in August from a year earlier, Moscow Exchange (MOEX) said on Tuesday, though trade wars have been injecting volatility into foreign exchanges markets last month.

Russia’s largest institutional trading venue revealed that its total FX market turnover came in at RUB 27.8 trillion ($416 billion), falling by over six percent month-over-month from RUB 29.6 trillion ($453 billion) in July 2019.‎

In addition, the latest reading corroborates a drop in volumes at the exchange on a year-over-year basis, as the figure failed to secure a yearly growth in both Ruble and US dollar terms, falling by 11.5 percent from RUB 31.4 trillion in June 2018.

MOEX’s total FX turnover in August 2019‎ featured spot trades of RUB 7.4 trillion, up from RUB 5.7 trillion in the month prior, but swap trades and forwards together came in at RUB 20.4 trillion, compared to RUB 23.9 trillion ($366 billion) in July.

MOEX expands FX offering with new pairs

MOEX’s FX market’s average daily turnover in August 2019 was RUB 1,262 billion ($18.9 billion), corresponding to a drop of two percent month-over-month‎ from RUB 1,287 billion ($19.7 billion) in July 2019, and was also lower by 13 percent year-over-year from RUB 1,363 billion in August 2018.

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.

Earlier this month, the exchange has expanded its foreign exchange (forex) offering, by launching trading in the US dollar/Japanese yen (USD/JPY) currency pair. The bourse said that the new trading pairs in demand from international clients and the latest additions also help promote the MOEX FX market.