Moscow Exchange sees 5.8% MoM drop in Forex ADV in February 2016

Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), the biggest Russian trading venue for currencies, stocks and derivatives, has earlier today reported its monthly volume metrics for February 2016, with the monthly reading for last month being better than in January 2016 but the average daily volumes (ADV) showing a month-on-month drop.

This pattern is easily explained via the holidays season in Russia which reduces the number of business days in January. That is why, the monthly volume comparison is usually tilted in favor of February.

  • Forex market

MOEX reported FX market turnover of RUB 30.5 trillion for February 2016. The result is 10.1% higher than in January 2016 and 55.6% higher than in February 2015. The February 2016 reading includes spot trades of RUB 12.4 trillion and swap trades of RUB 18.1 trillion.

The FX Market’s average daily turnover was RUB 1.45 trillion, down 5.8% from the result of RUB 1.54 trillion reported for January 2016 and up 40.8% from the result of RUB 1.03 trillion in FX ADV reported in February 2015.

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  • Equity & Bond Market

Secondary market turnover in stocks, RDRs and investment fund units amounted to RUB 766.7 billion, down from RUB 931.3 billion in February 2015. The average daily turnover was RUB 36.5 billion, markedly down from RUB 49 billion in February 2015.

Secondary corporate, regional and sovereign bond turnover rose 26.9% year on year to RUB 708.9 billion. The average daily turnover reached RUB 33.8 billion, up from RUB 29.4 billion a year earlier.

Fourteen new bond issues with a combined value of RUB 158.4 billion were placed last month.

  • Derivatives Market

Derivatives Market volumes surged 103.1% year on year, reaching RUB 13.4 trillion, or 207.9 million contracts, of which 202 million contracts were futures and 5.9 million contracts were options.

Open interest at the end of the month was RUB 828.9 billion.

  • Money Market

Money Market turnover increased by 32.5% year on year and totalled RUB 23.4 trillion. The average daily turnover was RUB 1.11 trillion.

The volume of repo transactions with the CCP was RUB 11.0 trillion, with the average daily turnover up 3.1 times year on year and reaching RUB 525.4 billion.

  • Precious Metals Market

Trading volumes on the Precious Metals Market increased 2.8 times year on year to RUB 11.3 billion. Turnover was RUB 11.3 billion (3.8 t) for gold and RUB 12.6 million (328.5 kg) for silver.

You can view the full report from MOEX by clicking here.

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