Spot foreign exchange on the Moscow Exchange (MOEX), Russia’s largest exchange group, fell 10% month-on-month (MoM) in April to 7.6 trillion Russian rubles ($96 billion). This is consistent with lower spot FX volumes across major trading sites in other regions.
However, compared to last year, spot foreign exchange trading on the exchange grew by 8.1%, with volumes of swaps and futures reaching 14.3 trillion Russian rubles ($180.5 billion). Overall, turnover in the foreign exchange market at MOEX fell 11% month-on-month to 21.9 trillion rubles ($276 billion), down from 24.7 trillion rubles ($312 billion) in the previous month. On a yearly basis, the decline was only marginal at a 0.5% drop of 4.2 trillion Russian rubles ($53 billion).
In addition, the average daily volume of forex trading at MOEX decreased by 3% from 1,121.7 billion rubles to 1,093.6 billion rubles. However, compared to the same period last year, the volume increased by 4%, up from 1049.1 billion.
Institutional spot forex is slowing across regions
while, finance poles Reports indicate that major trading venues in America and Europe recorded a significant decrease in spot forex trading volumes in April 2023. For example, on Cboe FX, a US spot forex trading platform, volumes decreased by 29% compared to the previous month to reach 793 billion American dollar. FXSpotStream, a New Jersey-based multi-bank rate streaming service for instruments such as spot forex and swaps, reported $1.1 trillion in April, representing a 28% drop from the previous month in spot forex trading volume.
Moreover, Germany-based 360T, one of the largest institutional forex trading platforms in Europe, saw overall trading volumes for the month of April drop 21% to $507 billion in March. Moreover, the total volume for the month of April is lower than the $530.9 billion the trading platform generated in February.
In Asia, Click 365 operated by the TSE bore the biggest impact as daily foreign exchange futures contract volume decreased by 43.3% compared to the previous month.
How did other MOEX markets perform?
MOEX’s stock and bond, derivatives, money markets and precious metals markets also saw less trading activity in April, prompting Russia’s largest stock exchange group. The total volume is 14% less to 90.3 trillion Russian rubles ($1.14 trillion). For example, on the stock and bond market, the total turnover, excluding overnight bonds, decreased by 5% per month to 3,186.0 billion rubles.
However, on an annual basis, the volume increased by 2 times from 1446.0 billion rubles. In addition, total trading volumes on MOEX increased year-on-year by 2.6%, up from RUB 88 trillion (USD 1.1 trillion) over the previous year period.
Meanwhile, MOEX grew its income from the foreign exchange market by 35% in 2022 despite the decline in foreign exchange demand by 17% during the year.
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Spot foreign exchange on the Moscow Exchange (MOEX), Russia’s largest exchange group, fell 10% month-on-month (MoM) in April to 7.6 trillion Russian rubles ($96 billion). This is commensurate with declines in spot FX volumes across major trading sites in other regions.
However, compared to last year, spot foreign exchange trading on the exchange grew by 8.1%, with volumes of swaps and futures reaching 14.3 trillion Russian rubles ($180.5 billion). Overall, turnover in the foreign exchange market at MOEX fell 11% month-on-month to 21.9 trillion rubles ($276 billion), down from 24.7 trillion rubles ($312 billion) in the previous month. On a yearly basis, the decline was only marginal at a 0.5% drop of 4.2 trillion Russian rubles ($53 billion).
In addition, the average daily volume of forex trading at MOEX decreased by 3% from 1,121.7 billion rubles to 1,093.6 billion rubles. However, compared to the same period last year, the volume increased by 4%, up from 1049.1 billion.
Institutional spot forex is slowing across regions
while, finance poles Reports indicate that major trading venues in America and Europe recorded a significant decrease in spot forex trading volumes in April 2023. For example, on Cboe FX, a US spot forex trading platform, volumes decreased by 29% compared to the previous month to reach 793 billion American dollar. FXSpotStream, a New Jersey-based multi-bank rate streaming service for instruments such as spot forex and swaps, reported $1.1 trillion in April, representing a 28% drop from the previous month in spot forex trading volume.
Moreover, Germany-based 360T, one of the largest institutional forex trading platforms in Europe, saw overall trading volumes for the month of April drop by 21% to $507 billion in March. Moreover, the total volume for the month of April is lower than the $530.9 billion the trading platform generated in February.
In Asia, Click 365 operated by the TSE bore the biggest impact as daily foreign exchange futures contract volume decreased by 43.3% compared to the previous month.
How did other MOEX markets perform?
MOEX’s stock and bond, derivatives, money markets and precious metals markets also saw less trading activity in April, prompting Russia’s largest stock exchange group. The total volume is 14% less to 90.3 trillion Russian rubles ($1.14 trillion). For example, on the stock and bond market, the total turnover, excluding overnight bonds, decreased by 5% per month to 3,186.0 billion rubles.
However, on an annual basis, the volume increased by 2 times from 1446.0 billion rubles. In addition, total trading volumes on MOEX increased year-on-year by 2.6%, up from RUB 88 trillion (USD 1.1 trillion) over the previous year period.
Meanwhile, MOEX grew its income from the foreign exchange market by 35% in 2022 despite a 17-year decline in foreign exchange demand during the year.
BlackBull DXtrade adds; the new Gate.io license; Read snippets of today’s news.