The Moscow Exchange (MOEX) has released its March trading volumes. During the month, overall turnover totaled $1.32 trillion (RUB46.2 trillion), 50% above the same period last year and 17.8% above figures. The month was buoyed by growth in MOEX’s FX and Derivatives units.
Following strong growth in 2013, FX trading at the MOEX has continued to take place this year, as during March, the venue posted $650 billion (RUB23 trillion) in total volumes, achieving record average daily activity of $30 billion (RUB1.2 trillion). Daily averages were 20% above February’s figures, and double the same period last year. FX volumes were driven by continued growth in Swap products which composed 68% of trading and amounted to $450 million in executions, and has seen its overall percentage share increase from the low 60’s in 2013.
March FX volumes appear to have benefited from a volatile month as friction between Russia and Ukraine has been taking place. As a result, during March, the Russian ruble hit a multi-year against the US dollar, with the USD/RUB peaking at 36.08 before settling back to just above 35.00 presently.
Be First to Comment