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Volatility Fuels Individual Forex Trading at Moscow Exchange

Moscow Exchange (MOEX), the main marketplace for trading stocks and Forex in Russia, has registered a jump in Forex turnover from trading by individuals in January 2014, thanks to high market volatility and the appreciation of the US dollar and the Euro against the Ruble. According to data released by the exchange yesterday, Russian individuals generated average daily Forex trading volumes that were 30% higher than in December 2013. 

 
Overall turnover from operations of all clients (Russian residents, non-residents, individuals and legal entities) amounted to RUB 3.1 trilllion (USD 89.4 billion), up by more than 10% from the RUB 2.8 trillion turnover registered in the last month of 2013. The share of client operations in the total Forex turnover at MOEX grew from 8.4% in December 2013 to 11.8% in January 2014. 
 
This set of metrics adds to the overall strong operating results the Moscow Exchange reported for last month. Forex volumes for January 2014 marked a jump of 57% year-on-year to RUB 13.19 trillion (USD 374.5bn), while the average daily FX turnover reached RUB 694 billion, also a strong result. Compared with December 2013 levels the figure was down 22% - but we should be lenient as the December result was a record one for MOEX. 
 
There was a record in January 2014 related to the RUB volatility but it came from the derivatives trading segment: the trading volumes with EUR/RUB futures amounted RUB 81.5 billion, or 1.72 million contracts last month which is even higher than the result achieved in December 2013.
 
In conclusion, let's recall that different types of participants on the exchange got full-blown direct market access in February 2012 – a move that became a major stimulus for traders to join MOEX and gave rise to turnover at the marketplace.
 

About Moscow Exchange

 
OJSC Moscow Exchange MICEX-RTS ("MOEX") operates Russia's largest public trading markets for equity, bond, derivative, foreign exchange and money market products, as well as Russia's Central Securities Depository (CSD) and the country's largest clearing service provider, National Clearing Centre. At the end of 2012, it ranked among the world's top-20 exchanges for equity trading by market capitalization and among the top-10 for bond trading by trading volume and for exchange-traded derivatives by number of contracts traded. Moscow Exchange has 703 issuers listed on its securities exchange, including many of Russia's largest companies.
TAGS: moex  moscow exchange  forex trading  individuals  operating metrics  forex volumes  trading volumes  january  january 2014  usdrub  eurrub  ruble  forex volatility  forex market 
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