Moscow Exchange Reports Flat FX Volumes for November 2017

Moscow Exchange (MOEX), Russia’s largest institutional trading venue, has released its trading volumes for the month ending November 2017 – the exchange’s total FX volume was flat on a monthly basis but a stronger ADV figure ultimately shows mild rebound from last month’s figures.

During the reported month, FX market turnover at MOEX was fairly unchanged month-over-month, coming in at RUB 27.3 trillion ($464 billion) from $468 billion in October 2017. In addition, the figure secured a consecutive yearly growth, jumping by 6.2 percent year-over-year from RUB 25.7 trillion in November 2016.

This month-on-month flat change, however, didn’t prevent the FX market’s average daily turnover from recovering as the figure rose by 4 percent, coming in at RUB 1.29 trillion ($22.0 billion) in November from RUB 1.24 trillion the month prior. The figure was again higher 16 percent year-on-year compared to the RUB 1.22 trillion ($19.0 billion) reported in November 2016.

MOEX’s total FX Turnover in November 2017 featured spot trades of RUB 6.6 trillion, or 24 percent of the total trading volume, and swap trades coming in at RUB 20.7 trillion, each higher year-on-year than the equivalent figures for the same month a year back.

Looking at MOEX’s derivatives market volumes during November 2017, the group yielded a strong performance for the month. In particular, MOEX reported a figure of RUB 7.5 trillion for the month – this was reflective of a gain of 15.3 percent month-over-month from RUB 6.5 trillion in October 2017.