08.07.2013 18:18

New record of the Moscow Exchange's FX market

In June 2013 the average daily value traded on the FX market of the Moscow Exchange reached $22.6 bn, a record high since the launch of FX trading on the market. The previous record of $22.1 bn was set in January 2009.

In June 2013 the average daily volume of spot and swap trades was $9.2 bn (40.5% of the overall trading volume of the FX market) and $13.5 bn respectively (59.5%).

The volume growth was driven both by rising volatility and the Exchange's innovations.

As of April 15, 2013 trading hours for the USDRUB_TOD instrument and swap trades USD_TODTOM have been extended for more than 2 hours, thereby allowing participants to more extensively use FX swaps to manage liquidity.

Furthermore, in April new instruments were launched and yuan currency trading was facilitated. As a result of the innovations, the average daily value traded in the yuan grew nearly fourfold to reach CNY34.3 million a day in June. On July 3, 2013 the yuan trading volume hit an all-time record high of CNY55.2 million.

In addition, from the beginning of this year non-resident banks from member states of the Eurasian Economic Community have been admitted to the market within the framework of the project for establishing the Integrated Currency Market of the EEC. The admission has fostered trading both in key currency pairs, USD/RUB and EUR/RUB, and national currencies when trades in Belarusian ruble and Kazakhstan tenge were made on the Exchange's FX market in June.

The launch of new instruments and swaps, extended trading hours and a broadening client base continue to contribute to the dynamic development of the Exchange's FX market.

For further information, please contact the Public Relations Department at (495) 363-3232.