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Moscow Exchange’s Forex Market Grows 20.4% in August

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Moscow Exchange's Forex Market Grows 20.4% in August

<p class="MsoNormal">The forex market trading volume of the Moscow
Exchange (MOEX), 's largest exchange group, surged 20.4% to RUB 20.9
trillion in August.</p><p class="MsoNormal">In July, total trading volume in the market <a href="https://www.financemagnates.com/institutional-forex/moscow-exchanges-forex-market-relapses-to-rub-173-trillion-in-july/">slipped away</a> from recovery, dropping 3% to RUB 17.3
trillion.</p><p class="MsoNormal">Earlier in June, forex demands on MOEX <a href="https://www.financemagnates.com/forex/moscow-exchange-posts-monthly-recovery-in-fx-trading-demand/">had recovered</a> to RUB 17.8 trillion from the RUB 16.1 trillion
generated in trading volumes in May. </p><p class="MsoNormal">The trading volume figures for August 2022 <a href="https://www.moex.com/n51144/?nt=201">published by MOEX</a> on Friday also disclosed that forex
spot trading volume shot up 1.9% to RUB 8.4 trillion. </p><p class="MsoNormal">Furthermore,  swap trades and forwards
volume reached RUB 12.5 trillion, a 37.2% increase. </p><p class="MsoNormal">Across Board</p><p class="MsoNormal">On a whole, total trading volumes across all
markets on MOEX climbed by 7.3% to RUB 81.2 trillion in August 2022. In July, the overall markets had generated RUB 75.7 trillion in trading volumes.</p><p class="MsoNormal">"Top risers in trading volumes were the bond market (up 35.9%), precious metals market (up 21.3%), FX market (up 20.4%), equity & bond market (up 15.5%) and money market (up 5.5%)," Moscow
Exchange wrote in its financial report.</p><p class="MsoNormal">Performance in Equity & Bond Market</p><p class="MsoNormal">According to MOEX, total trading volume on the
equity and bond market in August surged by a quarter (25.4%) to reach RUB
1,872.1 billion as against RUB 1,492.7 billion in July.</p><p class="MsoNormal">The exchange noted that 57 new bonds were issued
in August and they generated a combined value of RUB 1,183.9 billion, with
overnight bonds accounting for RUB 700.1 billion of this figure.</p><p class="MsoNormal">Last month, the Moscow Exchange recorded 44
new bond issues with a combined value of RUB 506.3 billion.</p><p class="MsoNormal">Furthermore, MOEX disclosed that the trading
volume in shares, depositary receipts and investment fund rose by 15.5% to RUB
887 billion from July's RUB 767.7 billion. </p><p class="MsoNormal">Farther in June, the figure in this regard came in at
RUB 909.3 billion. </p><p class="MsoNormal">Additionally, the average daily trading volume
(ADTV) in this category reached RUB 38.6 billion, a 5.5% increase from July's
RUB 34.5 billion.</p><p class="MsoNormal">"Turnover in corporate, regional and sovereign
bonds grew by 35.9% to RUB 985.1 billion (July 2022: RUB 725.0 billion). ADTV was
RUB 42.8 billion (July 2022: RUB 34.5 billion)," MOEX explained.</p><p class="MsoNormal">Derivatives, Money and Precious Metals Markets</p><p class="MsoNormal">In the derivatives market, trading volumes
dropped -23% to RUB 4.9 trillion from July's RUB 6.4 trillion.</p><p class="MsoNormal">The ADTV in this market declined 31% to 201.9
billion. In July, the volume hit 304.4 billion.</p><p class="MsoNormal">Unlike the derivatives market, MOEX's money
market recorded gains in August. The market's turnover increased 5.5% to RUB 52.9
trillion from RUB 50.2 trillion in July.</p><p class="MsoNormal">On the contrary, the ADTV of the money market
shrank -4% to RUB 2,301.5 billion. The average reached RUB 2,389.6 billion in
July.</p><p class="MsoNormal">"The CCP-cleared repo segment added 5.4% to
reach RUB 25.0 trillion, including the GCC repo segment which increased 8.9% to
RUB 13.2 trillion," MOEX added.</p><p class="MsoNormal">In the precious metals markets, spot and
swaps trades grew 21.3% to RUB 12.3 billion when compared to July's RUB 10.1
billion.</p><p class="MsoNormal">Gold topped the turnover in this market,
bringing in RUB 11.9 billion, followed by silver with RUB 0.4 billion.</p><p class="MsoNormal">In July, spot and swaps in gold raked in RUB 9.8
billion and silver RUB 0.3 billion in terms of trading turnover.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: Moscow Exchange's Forex Market Grows 20.4% in August
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