Moscow Exchange reports booming securities, FX trade despite Russia’s woes

By Andrei Skvarsky.

Moscow Exchange has said the turnover of financial instruments, money and precious metals on its trading floors has grown massively year on year, with sales of foreign exchange increasing by two and half times and those of derivatives nearly doubling.

Foreign currency sales through the bourse, which is Russia’s largest exchange group and a public company, reached 27.7 trillion roubles ($366bn at the January 31 exchange rate) last month compared with the January 2015 level of 14.3 trillion, the exchange said in a statement.

This included spot trades of 12.0 trillion and swap deals worth 15.7 trillion roubles respectively.

Derivatives trade swelled to 10.6 trillion from 4.1 trillion roubles year on year, the bourse said.

The rouble went down to about 75.50 from about 69.00 to the dollar between the end of January 2015 and end of January 2016.

Money-market repo transactions with the central counterparty surged in volume by a factor of 3.7 year on year.

Precious metals trade rocketed by a factor of 5.7, with 4.2 tonnes of gold sold for 11.8bn roubles and 150.4 kilograms of silver going for 5.4m roubles.

Sales of stocks, Russian depositary receipts and investment fund units were the bourse’s only market to post a decline, shrinking to 724.4bn from 685.9bn roubles. The exchange argued that one reason was there had been 18 trading days last month versus 19 in January 2016.

Six new bond issues worth a total of 102.3bn roubles were sold last month, the exchange said.

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