Moscow Exchange Reports Jump in FX Trading Volumes

Moscow Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (MOEX), the largest exchange group in Russia, has released its financial numbers for March 2021. The exchange saw a jump in volumes across all major markets including the FX Market, Derivatives Market, Equity Market, Bond Market and Money Market.

According to the official announcement, FX trading volumes reached RUB 31.9 trillion in March 2021, which was a jump of 33.1% compared to February 2021. Volumes on the Derivatives market jumped by 37% last month, compared to February 2021.

The overall trading volume across all markets at MOEX stood at RUB 90.4 trillion in March 2021, compared to 98.8 trillion in March 2020. MOEX reported massive numbers in March last year due to a significant surge in trading volumes caused by the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.

“FX Market trading volume was RUB 31.9 trillion (March 2020: RUB 36.3 trillion), with spot trades amounting to RUB 10.1 trillion and swap trades and forwards totaling RUB 21.8 trillion. The FX Market’s ADTV was RUB 1,449.8 billion (USD 19.5 billion), compared to RUB 1,727.1 billion (USD 23.6 billion) in March 2020,” MOEX mentioned in the official announcement.

Financial Results

MOEX recently reported financial results for 2020 and the exchange saw a 30.9% jump in Fee and Commission income (F&C), the largest increase in its history. Despite the dip in its Net Interest Income (NII) due to the lower interest rate environment, the exchange reported an Adjusted Net Profit of RUB 25.2 billion, which was a 13.8% surge compared to 2019.

“Despite the pandemic, the last year was a very successful one for Moscow Exchange and the Russian financial market as a whole. Russian businesses raised in excess of RUB 4 trillion from institutional and private investors via the issuance of equities and bonds on MOEX,” Yury Denisov, Chief Executive Officer of Moscow Exchange, said during an announcement in March 2021.

Finance Magnates earlier reported about the appointment of Andrey Burilov as the Chief Information Officer (CIO) at MOEX in 2020. Prior to joining the Moscow Exchange, Burilov served as Vice President and IT director at SMP Bank.