MOEX’s FX turnover rises in December 2021

abdelaziz Fathi

Currency trading at Moscow Exchange (MOEX) continued its upward route in December. This was buoyed by a steady rise in volatility and coupled with a multi-year effort to bring new business to the platform. However, volumes remained well below its 2021 peak seen in November.

MOEX’s total FX market turnover edged higher to RUB 31.9 trillion ($424 billion) last month, up 22 percent month-over-month from the RUB 26.1 trillion ($350 billion) exchanged hands in November 2021. Compared with volumes from the same month a year earlier, this figure was down 2.3 percent from RUB 32.8 trillion in December 2020 but virtually unchanged in dollar terms.

The average daily volumes in December 2021 reached RUB 1.25 trillion ($17 billion), up from RUB 1.24 trillion ($16.8 billion) in the prior month, Moex said in a statement. Year-over-year, the ADV figure was down six percent from RUB 1.31 trillion in 2020.

Additionally, December 2021’s turnover included spot trades of RUB 9.5 trillion and ‎swap trades coming in at RUB 22.4 trillion.

MOEX, which runs one of the largest FX trading platforms, revealed earlier it raised its stake in BierbaumPro AG, whose main asset is the OTC FX platform NTPro. The transaction increases MOEX’s ownership from 29.5% to 95%.

MOEX expands stocks offering, extends trading hours

Elsewhere, more than 80 stocks and depositary receipts of leading international companies including Nasdaq, Airbnb, Domino’s Pizza, Gartner, Motorola Solutions were admitted to trading on Moscow Exchange. This brings the total number of foreign securities available for trading on Russia’s premier bourse to 521.

MOEX says it plans to make more international securities available for trading in the future based on demand from banks, brokers, asset managers and their clients.

Russia’s largest institutional trading venue also extended the hours during which stocks can be traded from this winter in a move aimed at attracting a greater number of investors.

Effective December 6, MOEX opened the equity market three hours earlier, namely at 6:50am Moscow time. This extends the daily session to run for 17 hours. Previously, the trading hours on the market were from 9:50am to 23:50.

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