Moscow Stock Exchange reports $ 350 billion in currency volumes in November

Currency trading volumes continued to gain momentum on the Moscow Stock Exchange (MOEX) in November, supported by a steady increase in volatility coupled with a multi-year effort to bring new business to the platform.

According to a monthly report from Russia’s largest institutional trading platform, the total turnover of the foreign exchange market was 26.1 trillion rubles ($ 350 billion), up 5% from the 24 900 billion rubles ($ 340 billion), which was traded in October 2021. However, MOEX’s revenue was lower compared to volumes for the same month a year earlier, falling 4% from 27.3 trillion rubles in November 2020.

Revenue for November 2021 included cash transactions of 9.2 trillion rubles ($ 124 billion). That topped the previous month’s 7.7 trillion rubles, while swap and futures trading totaled 16.9 trillion rubles ($ 228 billion).

In terms of average daily volumes in November 2021, the metric printed 1.24 trillion RUB ($ 16.8 billion), up from 1.18 trillion RUB ($ 14.2 billion) the month before, said Moex in a press release. Moreover, year on year the ADV figure was down 5% from 1.36 trillion rubles or $ 17.1 billion in 2020.

MOEX would open the FX auction this month which will run from 6:50 am to 7:00 am for all spot instruments. The exchange had already started trading currencies, gold and derivatives three hours earlier from March 1.

MOEX, which operates one of the world’s largest FX trading platforms, revealed in October that it has increased its stake in BierbaumPro AG, whose main asset is the OTC FX platform NTPro. The transaction brings MOEX’s stake from 29.5% to 95%.

MOEX Expands Equity Offering, Extends Trading Hours

Elsewhere, more than 80 shares and certificates of deposit of leading international companies, including Nasdaq, Airbnb, Domino’s Pizza, Gartner, Motorola Solutions, have been admitted to trading on the Moscow Stock Exchange. This brings the total number of foreign securities available for trading on the Russian Premier Stock Exchange to 521.

MOEX has announced 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 platform has also extended the hours that stocks can be traded from this winter in a bid to attract more investors.

Starting December 6, MOEX will open the stock market three hours earlier, at 6:50 a.m. Moscow time. This extends the daily session to last 17 hours. Currently, the trading hours in the market are from 9:50 a.m. to 11:50 p.m.

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